Belgium Consumer Confidence Lowest Since April 2009

Consumer confidence in Belgium dropped for the second consecutive month to its lowest level nearly three years in February, data released by the National Bank of Belgium showed Monday.

The consumer confidence indicator fell to -20 from January's -16. The latest score is the lowest since April 2009.

The drop in the indicator is mainly the consequence of greatly increased pessimism on the part of consumers with regard to the unemployment outlook, the bank said. The corresponding index jumped to 47 from 34.

Consumers also expect the general economic climate to decline further as indicated by the economic situation index that fell to -25 from -22. Households also see a deterioration in their finances going forward, and the relevant index declined to -6 from -5. But, they were slightly optimistic regarding savings as the corresponding index rose to zero from -4. (Provided by RTTNews)