Investor sentiment towards the Belgian economy and stock markets has turned less positive since May.
This is, however, within the broader context of commercial and geopolitical tensions, according to the latest ING Investor Barometer released on Friday.
The investor barometer slightly declined from 99 points in May to 96 points in June, marking the fourth consecutive month it has remained below the neutral level of 100 points. It reached its lowest point since November 2022, plummeting to 77 points in April.
Over the next three months, 42% of respondents expect the Belgian economy to worsen, an increase from 36% in May, while 24% hold favourable expectations, down from 28%.
Nearly a third of investors believe it is not a good time to invest in risky assets: 35% of respondents foresee a decline in stock markets over the next three months, compared to 31% in May.
Consequently, the proportion of investors considering it a bad time to invest in risky sectors remains high at 32%, up from 28% in May.
Philippe Ledent, an economist at ING, advises that the three-point drop in the barometer should be viewed in context, given the turbulence experienced since the beginning of the year.
“2025 has been marked by unprecedented commercial and geopolitical tensions, yet investor morale is not far from its neutral level,” he noted.
Additionally, ING examined the impact of falling interest rates, which have sparked renewed interest in equities or bonds for 51% of investors surveyed, rising to 59% among those under 35.
For 22% of investors, the decline in rates has not altered their investment interest, a sentiment echoed by 18% of those under 35.
