2024-07-22 11:13:57
After rebounding in June, household confidence was weighed down in July by the threat of job losses.
Consumer confidence index fell in JulyThis follows a month in which a clear improvement was seen in June, according to a monthly survey conducted by the National Bank of Belgium (BNB).
The index rose from -1 to -5, especially due to Confidence in household finances declines and their savings intentions. Despite this decline, household finances show some stability compared to the dizzying declines in 2022 when high inflation was a major concern for consumers.
The National Bank’s indicators also show that Concerns about rising unemployment in the next twelve monthsThe difficulties at Audi’s Forest plant, where nearly 3,000 jobs are threatened, are undoubtedly linked to the distrust engendered in the labor market. This event follows other high-profile bankruptcies this year, the main one involving Flemish bus manufacturer Van Hool (which lost 2,500 jobs last January).
BNB indicators also show Optimism about the Belgian economic situation has declined Compared to June.
Despite a sharp decline in July, Household confidence levels remain above the long-term average (1990-2023)which is -8. Traditionally, consumer confidence is more volatile than business confidence, which has shown some stability over the past twelve months. The employer confidence index for July is expected to be released on Thursday.
1721656428
#Consumers #worried #job #market
