Investing.com – Belgian business confidence declined more-than-expected in July, remaining in negative territory for the third consecutive month, official data showed on Monday.
In a report, the National Bank of Belgium said its business climate index fell to a seasonally adjusted minus 2.5 in July from minus 1.1 in June.
Analysts had expected the index to decline to minus 2.2 in July.
On the index, a reading above 0.0 indicates improving conditions, below indicates worsening conditions.
Confidence among business leaders again deteriorated in the manufacturing industry. After a spurt in June, the business climate also weakened in the building industry and in the trade sector.
For the third month running, the smoothed overall synthetic curve, which indicates the underlying economic trend, has been pointing downwards.
Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD edging 0.15% higher to trade at 1.4380.
Meanwhile, European stock markets were broadly lower. The EURO STOXX 50 slumped 0.6%, France’s CAC 40 shed 0.2%, the FTSE 100 declined 0.25%, while Germany's DAX retreated 0.15%.
In a report, the National Bank of Belgium said its business climate index fell to a seasonally adjusted minus 2.5 in July from minus 1.1 in June.
Analysts had expected the index to decline to minus 2.2 in July.
On the index, a reading above 0.0 indicates improving conditions, below indicates worsening conditions.
Confidence among business leaders again deteriorated in the manufacturing industry. After a spurt in June, the business climate also weakened in the building industry and in the trade sector.
For the third month running, the smoothed overall synthetic curve, which indicates the underlying economic trend, has been pointing downwards.
Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD edging 0.15% higher to trade at 1.4380.
Meanwhile, European stock markets were broadly lower. The EURO STOXX 50 slumped 0.6%, France’s CAC 40 shed 0.2%, the FTSE 100 declined 0.25%, while Germany's DAX retreated 0.15%.