Belgium’s economy grows slightly more than expectedFriday, 31 August 2018 16:55
Compared to the same period of last year, economic activity increased by 1.4%.
Between the first and second quarters of this year, there was a 0.4%-increase in value added in construction, and 0.5% in the services sector. Industry decreased by 0.2%.
Growth was registered in all components of domestic demand, the BNB stressed. “Households increased their spending on consumption (0.1%) and their investments (0.3%),” it said. Public spending also went up, at the level of both consumption (0.4%) and investments (1.6%). Moreover, businesses intensified their investments by 1%.
Net exports of goods and services also made a positive contribution to gross domestic product (+0.3%), with the increase in exports (+0.7%) slightly higher than that of imports (+0.4%).
Finally, in the second semester, domestic employment went up by 0.5% and was 1.2% higher than at the same period of 2017.
The Brussels Times
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