Consumer confidence at its highest level since 2001

According to figures contained in the National Bank of Belgium’s monthly economic survey, consumer confidence in Belgium is now higher than it has been at any time since March 2001. National Bank of Belgium’s survey that was published on Monday morning reveals that consumer confidence now stands at +8. 

We were still paying for our shopping in Belgian Francs, the smartphone had yet to be invented and many of us still had video recorders in our homes the last time that consumer confidence was this high.

June’s figures show that Belgian households are becoming ever-more optimistic about the economic prospects for the country during the next twelve months. Furthermore, their concerns about the possibility of rising unemployment have further diminished. They believe that there financial situation will improve during the coming months, while the amount that they plan to save remains more or less the same.

In May consumer confidence rose by 10 points, the biggest every monthy rise. Since then there have been further positive signs. For example by the end of the year the National Bank of Belgium expects the country’s economy to have recovered to the level that it was at prior to the coronavirus crisis. This is more than 6 months earlier than had been predicted previously.

 

Last month another key economic indicator, business confidence, rose to its high level since mid-2007.

 

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