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Belgium Business Confidence Unexpectedly Improves In October

Belgium business confidence improved in October, defying expectations for a weakening, survey data from the National Bank of Belgium showed on Friday.

The business confidence index climbed to -8.5 from -10.8 in September. Economists had expected a score of -11.5.

The survey was conducted between October 1 and 22 and reflects only partly the stricter measures decided on October 16 by the federal government as part of the efforts to tackle the pandemic.

Confidence strengthened in the manufacturing industry and, very strongly, in the trade sector. Sentiment stabilized in services and in the building industry.

The production capacity utilization rate rose to 76.7 percent in October from 73.3 percent in July.

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