Belgium's business confidence improved more than economists expected in May after staying virtually unchanged in the previous month, data released by the National Bank of Belgium showed Friday.
The business confidence index dropped to -12.4 in May from -14.7 in April. Economists had forecast a reading of -14.
Confidence improved in the manufacturing industry for the second month in a row, helped by a more favorable assessment of stock levels and a brighter outlook for employment.
Sentiment improved more markedly in business-related services, with both the recent level of activity and expectations about business activity and general market demand turning more positive.
The building industry recovered considerably during the month, helped by more intensive use of equipment and a favorable development of both the trend in and level of order books.
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