Rising energy prices, high inflation and the Russian war of aggression in Ukraine have made Belgian consumers more pessimistic than ever about their own financial situation and the economic situation in Belgium. This is apparent from the figures on consumer confidence published by the National Bank on Thursday. Consumer confidence falls to its lowest level since 1985.
Today at 11:18
The consumer confidence indicator fell by 16 points in September and is now at -27, a huge loss of confidence, according to the National Bank. “It is close to loss rates at critical moments, such as the onset of the health crisis (April 2020) or the outbreak of war in Ukraine (March 2022),” it said.
There is mainly pessimism about the general economic development in Belgium during the next twelve months. That component for the indicator has therefore fallen to its lowest level ever (-49). Also, the prospects for the financial situation of households have never been so negative (-18).