Banque nationale de Belgique : Press release - Consumer confidence indicator (2021-11)PDF

2021-11-22

Links:	NBB.Stat	General information

Monthly consumer survey - November 2021

Consumer confidence down again in November

• The consumer confidence indicator has dropped back for the second month running, under the impact of deteriorating expectations about the general economic situation and unemployment in Belgium.

Just as in October, consumers appear to be less optimistic about the general economic outlook. In addition, and for the first time in six months, they say they have less confidence in anticipated labour market developments.

On a more personal front, expectations regarding their financial situation and their ability to save remain virtually unchanged.

Consumer confidence indicators1

			Expectations for the next twelve months				Consumer
		Economic situation		Unemployment in		Financial situation		Savings of		confidence
		in Belgium		Belgium2		of households		households		indicator
2020	November	-17	58	1	13	-15
	December	-3	51	4	20	-8
2021	January	-5	54	4	17	-10
	February	-4	48	2	13	-9
	March	2	37	2	18	-4
	April	-2	43	2	20	-6
	May	9	21	1	25	4
	June	19	13	4	24	8
	July	19	11	2	23	8
	August	5	8	0	21	5
	September	10	2	2	21	8
	October	0	-3	-3	16	4
	November	-7	0	-3	15	1

1. As of February 2020, the survey sample has been adapted to better reflect the socio-demographic characteristics of the population. In line with the European Commission's recommendations, this change is being introduced only gradually, so as not to interfere too much with the information content of the indicator.
2. Regarding unemployment expectations, a rise indicates a deterioration while a decline indicates an improvement.

Source: National Bank of Belgium.

Communication	boulevard de Berlaimont 14	phone + 32 2 221 46 28	Company's number: 0203.201.340
National Bank of Belgium Ltd.	BE-1000 BRUSSELS	www.nbb.be	RLP Brussels

NOVEMBER 2021

CONSUMER CONFIDENCE INDICATOR

15
			long-term
5			average
		1990 - 2020
-5
-15
-25
-35
2013	2014	2015	2016	2017	2018	2019	2020	2021

Expectations for the next twelve months

General economic situation in Belgium

Unemployment in Belgium¹

40
20
0
-20
-40
-60
2016	2017	2018	2019	2020	2021

80
60
40
20
0
-20
2016	2017	2018	2019	2020	2021

Financial situation of households

20
10
0
-10
-20
2016	2017	2018	2019	2020	2021

Savings of households

30
20
10
0
-10
-20
2016	2017	2018	2019	2020	2021

¹ Regarding unemployment expectations, a rise indicates a deterioration while a decline indicates an improvement.

Communication	boulevard de Berlaimont 14	phone + 32 2 221 46 28	Company's number:
National Bank of Belgium Ltd.	BE-1000 BRUSSELS	www.nbb.be	0203.201.340 - RLP Brussels