Business confidence continued to decline in June, according to the National Bank of Belgium (NBB).
“Business sentiment deteriorated considerably in business services and, to a lesser extent, in trade and manufacturing,” the NBB points out.
“In business services, where a clear loss of business confidence was recorded, all the components of the indicator deteriorated. In addition to a more negative assessment of the current level of activity, business leaders also showed themselves to be much more pessimistic about the future development of their own company's activity, on the one hand, and of general market demand, on the other,” it explains.
Indicators were also down in trade and manufacturing.
“Finally, the near-stabilisation of confidence in the construction sector is due to an improvement in the recent trend in the order book and better use of equipment, while the other indicators fell back slightly,” the bank concluded.
