The National Bank of Belgium’s latest Business Cycle Monitor forecasts Belgian GDP growth of 0.3% in the third quarter of 2026, following stagnation in the second quarter. Its nowcasting models indicate growth of 0.3% to 0.6%, but the bank favors the lower end of that range and assesses the balance of risks as broadly neutral. Household consumption growth is expected to remain stable despite weak purchasing power growth, while business and government investment should return to moderate expansion. Housing investment is forecast to edge up and government consumption to remain broadly flat amid budget consolidation. Exports and imports are both expected to rise, leaving net exports with a broadly neutral contribution to GDP growth.
2026-09-09National Bank of Belgium
National Bank of Belgium forecasts Belgian GDP growth to rebound to 0.3% in third quarter of 2026
The National Bank of Belgium expects Belgian GDP growth to rebound to 0.3% in the third quarter of 2026 after stagnating in the second quarter. Stable household consumption and renewed investment growth should support activity, while net exports are likely to make a broadly neutral contribution.