Belgian consumer confidence surged in February to its highest level in six months, according to the monthly barometer of the National Bank.
Belgians are notably less pessimistic about unemployment and the general economic situation in Belgium, the report indicates.
The National Bank suggests that stricter government regulations might have contributed to this shift.
However, there is no significant improvement in personal financial outlook. On the contrary, households’ expectations regarding their own financial situation have slightly worsened, while their expectations for saving capacity have somewhat improved.
The consumer confidence indicator has now reached -4 points. Over the past six months, the index had consistently been lower, hitting a low of -11 points in January. The highest level last year was recorded in June at -1 point.
Notably, there is a significant recovery in the expected unemployment measure. This sub-indicator has jumped from 32 to 8 points, the lowest level since spring 2022 – a lower figure indicates a positive trend in unemployment.
However, the recovery in other sub-indicators is less pronounced. In fact, Belgians have become slightly more pessimistic about their personal financial situation, with this measure dropping from -2 to -3 points in February. The capacity to save is now on par with the level seen in June 2024.
