Investing.com – Belgian business confidence improved more-than-expected in December, but remained in negative territory for the eighth consecutive month, official data showed on Wednesday.
In a report, the National Bank of Belgium said its business climate index improved by 1.6 points to a seasonally adjusted minus 10.6 in December from a reading of minus 12.2 in November.
Analysts had expected the index to improve by 1.1 points to minus 11.1 in December.
On the index, a reading above 0.0 indicates improving conditions, below indicates worsening conditions.
Business confidence firmed up in the manufacturing industry, more markedly so in the building industry and especially in trade.
By contrast, in the business-related services, where the business indicator had shown a very clear recovery the previous month, the situation stabilized.
The smoothed overall synthetic curve, which reflects the underlying trend, is still on a downward path.
Following the release of the data, the euro remained lower against the U.S. dollar, with EUR/USD shedding 0.14% to trade at 1.3063.
Meanwhile, European stock markets were mixed. The EURO STOXX 50 edged 0.15% lower, France’s CAC 40 dipped 0.15%, the FTSE 100 declined 0.35%, while Germany's DAX eased up 0.1%.
In a report, the National Bank of Belgium said its business climate index improved by 1.6 points to a seasonally adjusted minus 10.6 in December from a reading of minus 12.2 in November.
Analysts had expected the index to improve by 1.1 points to minus 11.1 in December.
On the index, a reading above 0.0 indicates improving conditions, below indicates worsening conditions.
Business confidence firmed up in the manufacturing industry, more markedly so in the building industry and especially in trade.
By contrast, in the business-related services, where the business indicator had shown a very clear recovery the previous month, the situation stabilized.
The smoothed overall synthetic curve, which reflects the underlying trend, is still on a downward path.
Following the release of the data, the euro remained lower against the U.S. dollar, with EUR/USD shedding 0.14% to trade at 1.3063.
Meanwhile, European stock markets were mixed. The EURO STOXX 50 edged 0.15% lower, France’s CAC 40 dipped 0.15%, the FTSE 100 declined 0.35%, while Germany's DAX eased up 0.1%.