The National Bank of Belgium reported on Thursday in its monthly survey of business conditions that the confidence of business managers remained stable in February. In services, entrepreneurs rated current and future activity levels more positively. In the manufacturing, a moderate rise in the indicator is almost exclusively based on improved employment prospects.
In the construction sector, where the economic situation has deteriorated somewhat, the order books have shrunk and the business level is more often the subject of an unfavorable judgment. In addition, demand forecasts have been revised downwards according to the bank.
As for the pessimism of traders, it affected all the components of the indicator, in particular the forecast of orders from suppliers.