FX.co ★ Belgium Business Pessimism Improves for Third Month

Belgium's business confidence indicator rose by 0.5 points to -11.9 in July 2026, up from -12.4 in the previous month. This was the highest level since the start of the year and marked the third consecutive monthly improvement, though it still fell short of market expectations of -10.2. Confidence improved most strongly in the construction sector, where the indicator rebounded to -3.0 from -12.0. Sentiment also ticked up in manufacturing (-15.5 vs. -15.7) and strengthened markedly in business-related services (-3.8 vs. -7.4). By contrast, confidence in the trade sector deteriorated further to -10.8 from -9.3, reflecting weaker activity in textiles and electrical and electronic appliances. At the same time, confidence remained subdued in building completion and finishing (-13.4 vs. -4.3) and in structural building work (-5.0 vs. -4.2).