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Belgium's GDP grew in 2018, but this is not very good news …



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Belgium's gross domestic product (GDP) grew by 0.3% in the fourth quarter of 2018 compared with the previous quarter and by 1.4% for the entire 2018, according to a first estimate published on Wednesday. The Institute of National Accounts (ICN) and the National Bank of Belgium (NBB). In December, presenting its latest economic forecasts, the NBB still expected growth of 1.5% in 2018, 1.4% in 2019, 1.3% in 2020 and 1.2% in 2021.

If the data for the fourth quarter is confirmed, the same level of growth will be recorded in the four quarters of 2018: + 0.3% compared with the previous quarter.

From 1.4% in 2018 there will be the lowest growth since 2014 (+ 1.3%). Belgium's GDP grew by 1.7% in 2017, by 1.5% in 2016, and by 1.7% in 2015.

ICN and NBB returned on Wednesday in the third quarter account details. During this period, internal employment increased by 15,000 (+ 0.3%) on a quarterly basis and by 61,300 (+ 1.3%) on an annualized basis. “This growth is mainly associated with the development of employment in the services sector, especially in the business services sector, as well as with the growth observed in the“ human health and social actions ”sector, as well as in trade, transport and hospitality" also increased by 0.3% compared with the previous quarter and 1.4% compared with the corresponding quarter of the previous year.


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