2020.07.2415:28:00UTC+00Belgium Business Confidence Improves Further

Belgium's business confidence strengthened strongly again in July as morale improved markedly in the manufacturing industry, survey data from the National Bank of Belgium showed on Friday.

The business confidence index rose to -13.9 from -22.9 in June. Economists had forecast a score of -14.

Morale strengthened in all sectors, except business services, in July.

In manufacturing, the index gained 12.9 points as business leaders were less pessimistic regarding the current situation as well as the outlook.

The biggest contribution to the improvement came from the stronger assessment of stock levels and demand prospects.

Results of the quarterly survey of production capacity in the manufacturing industry revealed that the production capacity utilization rate rose to 73.3 percent in July from 73 percent in April.

This suggest a hesitant recovery after the very sharp drop recorded in April.