Belgium's economy experienced slower growth in the second quarter of the year, consistent with the preliminary data previously released, according to the latest report from the National Bank of Belgium on Friday.
Seasonally and calendar-adjusted gross domestic product (GDP) increased by 0.2 percent in the second quarter, slightly less than the stable 0.3 percent rise observed in the preceding quarter. This marks the slowest growth since the fourth quarter of 2022.
On the expenditure front, private consumption expenditure rose by 0.2 percent over the quarter, while general government expenditure increased by 0.6 percent. Gross fixed capital formation saw a notable rise of 2.7 percent. Conversely, net exports were unfavorable due to exports declining more rapidly than imports.
Year-on-year, GDP growth eased to 1.1 percent, down from the 1.3 percent recorded in the first quarter of the year, as predicted.
