FX.co ★ Belgium’s NBB Business Climate Stalls in March, Holding at -13.7

Belgium’s business sentiment showed no sign of improvement in March, with the National Bank of Belgium (NBB) business climate indicator remaining unchanged at -13.7. The indicator, which was also at -13.7 in February 2026, suggests that companies continue to face a challenging operating environment as no momentum shift has yet emerged.

The flat reading indicates that, despite hopes for a potential rebound, corporate confidence has neither deteriorated further nor recovered meaningfully over the past month. The persistence of the indicator in negative territory points to ongoing caution among Belgian businesses regarding economic prospects, investment, and activity levels.

The latest data, updated on 25 March 2026, will be closely watched by analysts and policymakers for signs of whether this stabilization is a temporary pause or the start of a longer period of subdued business sentiment in Belgium.