Belgium's economic growth shows signs of deceleration as the nation's GDP expanded by just 0.2% in the second quarter of 2024, according to the latest figures released on 29 July 2024. This marks a slight decline from the 0.3% growth observed in the first quarter of the year, reflecting a slowdown in economic momentum.
The quarter-over-quarter comparison highlights a modest but noticeable dip in the growth rate. In Q1 2024, the Belgian economy had demonstrated a 0.3% increase over the previous quarter, which was relatively stable. Nonetheless, the 0.2% growth in Q2 suggests potential challenges ahead for Belgium's economic landscape.
Economic experts suggest that a combination of global economic uncertainties and domestic factors might be contributing to the sluggish growth. Policymakers and analysts will be closely monitoring developments in the coming months to better understand the underlying causes and to formulate strategies aimed at bolstering economic resilience.
