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Short-term economic growth predictions from different sources in Belgium 2020

In March 2020, the four biggest banks of Belgium had already lowered their economic outlook for the rest of the year as the coronavirus spread. All four banks combined predicted that Belgium's economy would grow by 0,8 percent in 2020, a prediction that was significantly lower than the forecast from the National Bank at the end of 2019 and their lowest prediction since 2013. Contributing factors in early March 2020 were the pandemic outbreak in China and its potential consequences for Belgian trade, along with concerns on consumer confidence.

Short-term GDP growth forecast for 2020 according to different sources in Belgium

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Sources

Release date

March 2020

Region

Belgium

Survey time period

March 2020

Supplementary notes

The numbers provided are as of the listed date, as world events or domestic occurances can change these short-term predictions. The National Bank of Belgium is older than the predictions from the individual banks, as the NBB publishes its predictions once every six months.

For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.

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