BRUSSELS: Belgium’s business confidence rose for the first time in three months in February, but the pace of improvement was less-than-expected, survey data from the National Bank of Belgium showed Tuesday.
The business confidence indicator climbed to -8.3 from January’s -8.8. Economists, however, had forecast a stronger score of -7.8.
Improved demand prospects boosted confidence among manufacturers, business services firms and retailers. The index for the factory sector rose to -9.4 from -10.5. The corresponding index for the business services sector climbed to 4.9 from 3.9.
In retailing, the confidence index improved to -12.2 from -14.4. Retailers also plan to increase orders placed with suppliers to meet higher demand.
Meanwhile, morale weakened in the construction sector mainly due to a sharp contraction of the number of new orders and lower utilization of equipment as well as due to weaker demand forecasts. The relevant index fell to -14.9 from -12.2.
