Belgium October Business Sentiment Weakens Unexpectedly

Business confidence in Belgium unexpectedly deteriorated in October after almost stabilizing in the previous month, data released by the National Bank of Belgium showed Tuesday.

The headline business confidence index dropped to -13.5 in October from -11.6 in September, which was broadly unchanged from the preceding month. Economists had forecast the index to rise to -11 in October.

The deterioration of the business climate has affected all branches of activity surveyed, data showed.

Sentiment in the manufacturing industry weakened for the second month in a row, with assessment of total order books and employment forecasts showing negative trend.

In the building industry, the economic climate fell back after rebounding sharply in September, and continued to alternate between losses and revivals of optimism.

Confidence among entrepreneurs in business-related services deteriorated for third successive month. The relevant indicator for the trade sector also declined during the month, owing in part to less favorable demand forecasts.

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