Belgium records huge drop in consumer confidence index

(Reuters) – Belgian consumer confidence dropped dramatically in September, according to the data released on Thursday by the National Bank of Belgium (NBB).

The consumer confidence index dropped by 16 points on the previous month to -27 points in September.

“The loss of confidence is enormous,” the NBB said in a press release. It said the fall was close to the levels seen in April 2020 after the global COVID-19 pandemic struck or the level seen in March 2022 following Russia’s invasion of Ukraine on Feb. 24.

Belgian households are worried by the spike in energy prices as winter approaches, record levels of inflation and the war in Ukraine.

(Reporting by Michal Aleksandrowicz in Gdansk; Editing by Jon Boyle)