Forexpros – Belgian business confidence declined more-than-expected in November, remaining in negative territory for the seventh consecutive month, official data showed on Thursday.
In a report, the National Bank of Belgium said its business climate index fell by 1.8 points to a seasonally adjusted minus 12.2 in November from a reading of minus 10.4 in October.
Analysts had expected the index to decline by 0.9 points to minus 11.3 in November.
Confidence among business leaders has thus sunk to its lowest level since October 2009.
On the index, a reading above 0.0 indicates improving conditions, below indicates worsening conditions.
After a slight improvement last month, the business situation deteriorated again in the manufacturing industry, mainly under the impact of a sharp downward revision of demand forecasts.
The business climate also weakened in the building industry and very distinctly so in the trade sector.
Following the release of the data, the euro was fractionally lower against the U.S. dollar, with EUR/USD easing down 0.08% to trade at 1.3331.
Meanwhile, European stock markets were mixed. The EURO STOXX 50 edged 0.15% higher, France’s CAC 40 rose 0.45%, the FTSE 100 dipped 0.1%, while Germany’s DAX added 0.4%.
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