FX.co ★ Belgium Business Pessimism Eases

Belgium’s business confidence indicator rose by 1.1 points in September 2026, reaching -12.1 from -13.2 in August, defying market expectations of a further decline to -13.5. Sentiment strengthened in manufacturing (-12.2 vs -17.8), driven by increased optimism in building materials and flat glass (-24.9 vs -45), the manufacture of ferrous and non-ferrous basic metals (-10.9 vs -34.9), and capital goods (-7.7 vs -14.6). Confidence also improved in roofing activities (10.7 vs 9.9). By contrast, pessimism intensified in construction-related services, including structural building work (-11.8 vs -7.7), construction installation (-8.3 vs -1.9), and building completion and finishing (-20 vs -10.4), as well as in business-related services (-13.4 vs -1.4) and trade (-8.6 vs -5.6).