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Manufacturing Demand a Key Drag On Eurozone  Sentiment

BELGIUM
MNI (London)

BELGIUM OCT BNB BUSINESS SENTIMENT -15.5; SEP -11.8

  • Manufacturing sentiment led the third consecutive downturn in sentiment for October, whilst services and commerce saw small improvements due to more robust order books.
  • Manufacturing production capacity utilisation contracted sharply to 76.2% in October, from 80.7% in July.
  • This trend was also flagged by neighbouring Germany in the Ifo survey this morning.
  • Employment forecasts also weakened against a backdrop of weakening demand outlooks and looming recessionary fears. On Friday advance GDP data for Q3 is due, and likely to see the Belgian economy either stall or see a mild contraction.

Source: BNB

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