2012.06.0610:23:00UTC+00Belgium Q1 Economic Growth Confirmed At 0.3%

The Belgian economy expanded as previously estimated in the first quarter, final data released by the National Bank of Belgium showed Wednesday.

Gross domestic product (GDP) increased a seasonally and calendar adjusted 0.3 percent quarter-over-quarter in the first quarter, reversing the 0.1 percent decline seen in the fourth quarter. The latest figure matched the flash estimates.

Private consumption expenditure remained unchanged from the fourth quarter, while public consumption expenditure moved up 0.2 percent. There was a 0.5 percent quarter-over-quarter increase in gross fixed capital formation during the first three months of 2012.

On an annual basis, GDP grew 0.5 percent during the three-month period, in line with the preliminary estimates. The rate of growth was, however, notably slower than fourth quarter's 1.2 percent, data showed.