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BNB Business Sentiment Bottoming Out

BELGIUM
MNI (London)

BELGIUM NOV BNB BUSINESS SENTIMENT -16.6 (FCST -14.3); OCT -15.5

  • Belgian business confidence fell for the seventh consecutive month in November.
  • Steep drop-offs in services, manufacturing and trade new orders due to weak demand saw muted production in November. This theme has been echoed across French, Italian and German indexes.
  • Yet sentiment is looking less pessimistic going forward. Despite remaining negative, demand forecasts improved marginally for all industries except for services.
  • Price movements remained clouded.
  • The quarterly BNB credit conditions index signalled a notable tightening, as economic outlooks remain muted and the ECB continued to hike interest rates against a backdrop of soaring eurozone inflation.

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BELGIUM NOV BNB BUSINESS SENTIMENT -16.6 (FCST -14.3); OCT -15.5

  • Belgian business confidence fell for the seventh consecutive month in November.
  • Steep drop-offs in services, manufacturing and trade new orders due to weak demand saw muted production in November. This theme has been echoed across French, Italian and German indexes.
  • Yet sentiment is looking less pessimistic going forward. Despite remaining negative, demand forecasts improved marginally for all industries except for services.
  • Price movements remained clouded.
  • The quarterly BNB credit conditions index signalled a notable tightening, as economic outlooks remain muted and the ECB continued to hike interest rates against a backdrop of soaring eurozone inflation.