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Belgium Business Confidence Recovers Slightly In May

Belgium business confidence slightly recovered in May led by a modest improvement in sentiment in the business-related services sector as the lockdown restrictions imposed to slow the spread of the coronavirus were partially eased, survey data from the National Bank of Belgium showed on Monday.

The business confidence index rose to -34.4 from -36.1 in April. Economists had forecast a score of -29.5.

In April, the index had logged a record fall. Hence, the confidence reading still remains extremely low.

Sentiment largely stabilized in the trade sector, while it weakened in construction and manufacturing.

The employment outlook was largely unchanged in the trade sector, while it was modestly revised upwards in manufacturing.

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