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Consumer confidence bounces back in October

©Belga
©Belga

The Belgian consumer confidence indicator rose in October, but not enough to reverse September’s remarkable downturn, says BNB (National Bank of Belgium) on Tuesday. The indicator is now at -8, against -10 in September and -6 in July and August.

“This new consumer confidence is exclusively down to less pessimistic macro-economic forecasts. For example, last month people were becoming very anxious about unemployment, and they are far less worried now. At the same time, and for the first time in 4 months, consumers are feeling more optimistic about the general economic outlook,” explains BNB in a press release.

However, households’ own financial outlook and savings goals remained unchanged compared to September.

Christopher Vincent (Source: Belga)