FX.co ★ Belgium Business Sentiment Improves Slightly

Belgium’s business confidence indicator rose by 0.9 points to -13.3 in May 2026, rebounding from a one-year low of -14.2 in April and outperforming market expectations of -13.5. The overall improvement was driven mainly by the building sector, where sentiment strengthened to -11.1 from -15.7, supported by sustained growth in orders and brighter short-term demand prospects. Confidence also picked up in business-related services (-8.8 vs -11.6), reversing a steady decline that had persisted since December, as firms reported markedly better expectations for future activity and overall demand, despite a more negative assessment of current activity. Trade confidence was stable at 14.8, with weaker demand expectations offset by improved employment prospects and stronger supplier order forecasts. By contrast, manufacturing sentiment edged down to -14.8 from -14.4, as companies turned more pessimistic about demand and inventories, even though order books and hiring plans showed some improvement.