Consumer confidence in Belgium deteriorated significantly for the second consecutive month in August, contrary to economists' forecast for an improvement, data released by the National Bank of Belgium showed Tuesday.
The headline consumer confidence index fell to -16 in August from -13 in July, which was lower than June's reading of -10. Economists were looking for a reading of -12.
Consumers turned more pessimistic about the general economic condition in Belgium in the next twelve months, with the relevant sub-index dropping to -11 in August from -7 in July.
Households expectations regarding their financial situation deteriorated for the second month in a row. The corresponding indicator declined to -3 in August from -4 in the preceding month. The measure of expectations for unemployment in the country rose to 46 from 39, data showed.
Meanwhile, consumers views of their future savings opportunities turned less negative than in July, with the relevant index rising to -3 from -4.
by RTT Staff Writer
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