Preliminary estimates from the National Bank of Belgium have shown that the nation's economic growth remained steady in the last quarter of 2023. The gross domestic product (GDP) recorded an expansion of 0.4% in the fourth quarter, identical to the growth experienced in the third quarter.
When compared with the same quarter of the previous year, the GDP grew at a swifter pace of 1.6% in the final quarter of December, an advance from the 1.4% rise recorded in the September quarter.
On a quarterly basis, there was a 0.6% reduction in the added value within industry. On the other hand, the construction sector displayed continual positive growth, achieving a 1.0% increase. The service sector experienced an increase in its value added by 0.7%.
Over the course of 2023, the economy grew by 1.5% compared to 2022. This growth was majorly influenced by the industry and services sectors.
