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Belgian economic growth has just remained positive in the fourth quarter of 2022. This is apparent from a flash estimate from the National Bank on Monday.
jvhBron: BELGA
Today at 11:07
Gross domestic product, adjusted for seasonal and calendar influences, rose by 0.1 percent compared to the previous quarter. That is better than expected: based on its models, the National Bank had pushed forward a fall of 0.1 percent in December.
The growth is driven by the services sector (+0.3 percent) and construction (+0.8 percent). By contrast, value added in manufacturing fell by 1 percent.
Economic growth for the whole of 2022 was 3.1 percent. Economic activity increased in the services sector in particular (+4.2 percent), followed by manufacturing (+0.3 percent) and construction (+0.1 percent).
The National Bank emphasizes that the estimates are accompanied by “great uncertainty”. For example, the flash estimate for the third quarter still showed a contraction of the economy of 0.1 percent, but new calculations later pointed to a growth of 0.2 percent.
