Consumer confidence bounced back in July. After two months of relative uncertainty, dropping to -9 points, the indicator has started to rise again, returning to the favourable level it posted in April (-6), the National Bank (NBB) reported on Thursday.
This upturn in confidence affected can be observed in all criteria of the indicator.
Households mainly expect their financial situation, which rose from -5 in June to 0 in July, to improve significantly over the next few months, and also anticipate saving more, with the indicator climbing from 1 to 5 in one month.
Expectations for the general economic situation continue to strengthen slowly. As was the case last month, households say they are less worried about a possible upsurge in unemployment over the next twelve months, says the NBB.
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The data shows that Belgians are slowly feeling more confident in their daily consumption habits. This reversal of fortunes has taken place slowly during the first half of this year.
According to statistics from Statbel, the proportion of people living in Belgium who find it (very) difficult to make ends meet fell from 16.3% at the end of 2022 to 13.9% in the first quarter of 2023. Likewise, satisfaction with household finances has also improved, with Belgians giving an average score of 6.9 out of 10 on this sentiment in June 2023, compared to 6.7 at the end of December 2022.
