FX.co ★ Belgium's Business Sentiment Deteriorates Broadly in February

Belgium's business confidence indicator fell by 4.9 points to -13.7 in February 2025, down from -8.8 in January and well below market expectations of -7.5. The trade sector saw the steepest decline, with its index dropping to -17.9 from -5.6, as both expectations and order forecasts to suppliers deteriorated sharply. Confidence in the manufacturing industry also weakened, sliding to -17.1 from -11.0, with all sub-components declining amid a marked worsening in assessments of total order books. Business-related services recorded a third consecutive monthly decline, with the index easing to -4.3 from -2.7. Meanwhile, confidence in the building industry was virtually unchanged, edging down to -7.1 from -6.8.