Belgium’s business confidence deteriorated further in August, driven by the weakening sentiment in manufacturing and business-related services sectors, survey results from the National Bank of Belgium showed on Friday.
The business confidence index dropped to -5.8 from -5 in July. Economists had forecast a score of -6.
The loss of confidence was evident in all branches of activity, the bank said.
A sharp downward revision of demand forecasts and a more pessimistic appraisal of stock levels, due to seasonal factors, caused the confidence index in manufacturing to fall to -9.6 from -9.1.
Services firms reported a deterioration of prospects for their own activity, as well as for general market demand, leading to a drop in the sentiment index to 3 from 4.5.
The confidence index in construction eased to 2.2 from 2.6, mainly due to a contraction of order books and reduced use of equipment.
In the trade sector, a considerable deterioration of demand forecasts and expectations for placing orders with suppliers led to a fall in morale. The relevant index dropped to -7.8 from -4.4.
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