Belgian business confidence rose from the lowest level in three years in November as executives in the services and trade industries said demand prospects improved following a recovery in activity.
The confidence index for Belgium increased to minus 13.4 from minus 13.5 in October, the Brussels-based National Bank of Belgium said today in a statement. Economists had predicted the index to be unchanged in November, according to the median of 13 forecasts in a Bloomberg News survey.
The improving sentiment among Belgian executives mirrors similar moves in Germany and France, Belgium’s two largest export destinations. While the Belgian economy stagnated in the third quarter, narrowly escaping a recession, sentiment among executives in the manufacturing industry fell for a third straight month in November amid a deteriorating demand outlook to the lowest level in more than three years.