Belgium Business Confidence Tumbles In August

(RTTNews) - Belgium's business confidence sharply deteriorated in August, after two months of improvement, survey figures from the National Bank of Belgium showed Wednesday.

The business confidence index plunged to -3.1 from 1 in July. Economists had expected a modest decline to 0.8.

Weakness was witnessed across the board. Morale in the factory sector sharply declined, mainly due to weaker assessment of order books.

Sentiment in the business services sector eased after three consecutive months of improvement as firms viewed the current situation more negatively and consequently, their expectations were dim.

Confidence in the construction sector fell on the back of a sharp fall in new orders and an unfavorable assessment of overall order books.

In trade, confidence decreased largely due to the sharp decline in the employment prospects and worsened demand expectations.