Belgian Business Sentiment Drops in November
November 24 2020 - 9:29AM
Dow Jones News
By Maria Martinez
Belgian business sentiment declined in November, after rising
for six consecutive months in its recovery from the coronavirus in
the spring, data from the National Bank of Belgium showed
Tuesday.
Business confidence in Belgium fell to minus 12.1 in November
from minus 8.5 in October. This compares with a forecast of minus
16.0 by economists polled by The Wall Street Journal.
The business climate has deteriorated in the trade sector in
particular, as well as in business-related services. The building
industry also registered a decline. The manufacturing industry is
the only sector which has narrowly escaped the prevailing gloom,
the National Bank of Belgium said.
The economic situation has clearly weakened in the trade sector,
with the indicator falling to minus 30.4 from minus 14.5 in
October. Demand forecasts have collapsed, triggering an anticipated
reduction in orders placed with suppliers, and job prospects are
also shrinking, the national bank said.
In the services sector, entrepreneurs appear to take a more
negative attitude about the future of their own business activity
and the indicator has dropped to minus 24.0 in November from minus
8.7 in October.
Confidence in the construction sector fell to minus 12.1 from to
minus 4.3 in October.
Sentiment only improved in the manufacturing sector, with the
index rising to minus 8 in November from minus 9 in October thanks
to a slightly more positive appraisal of total order books and on
employment prospects, the bank said.
Write to Maria Martinez at maria.martinez@wsj.com
(END) Dow Jones Newswires
November 24, 2020 09:14 ET (14:14 GMT)
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