The gross domestic product (GDP) of Belgium, corrected for seasonal variations and calendar effects, increased by 0.5% in the second quarter in relation to the preceding quarter. In one year, economic activity reported growth of 1.4%, according to the “flash” estimate published Thursday by Institut des comptes nationaux (ICN).
This increase of 0.5% compared to the preceding three quarters occurred following an increase in GDP of 0.2% in the first quarter of 2016. After one year, growth in the first three months of the year had already reached 1.4%.
“Besides the acceleration observed in the services sector, this growth is mainly attributable to an increase in energy sector activity in the second quarter,” stated ICN in a communiqué.