Consumer confidence is on the increase in March after weakening in February, the National Bank of Belgium (BNB), announced on Monday. The consumer confidence index has gone up to three points, after plunging to one point in February. In January it had reached four points.
“The erosion of consumers’ confidence, which had affected all components of the index last month, has been almost neutralized this month, thanks to a reverse trend of comparable scope”, the bank noted.
The renewed consumer confidence results from more favourable unemployment forecasts and better overall economic prospects. Moreover, households have been showing greater optimism than in February about their future financial situation and projected savings.