Belgium: The following represents a general Table of Contents outline for the Country Economic Forecast.
The actual report may cover any or all of the topics listed below.
Highlights and Key Issues
four/five paragraphs of analysis covering the main economic and political issues contained in the subsequent Economic Overview
Forecast Table showing % changes for the country
with 2 years of historical data and 4 years of forecast data for the following:
Stockbuilding (% of GDP)
Exports of goods and services
Imports of goods and services
Current account balance (US$ and % of GDP)
Government budget (% of GDP)
Short-term interest rates (%)
Long-term interest rates (%)
Exchange rate (vs. US dollar)
Exchange rate (vs. euro)
two pages of events-driven analysis highlighting the most recent economic activity and, where relevant, political developments of the country, detailing significant changes to Oxford Economics' forecasts
Charts and Tables
covering a full range of economic developments relevant to the time period covered.
These could include such topics as:
Contributions to GDP growth
Monthly industrial output
Business and consumer confidence
Prices and earnings
Consumption and investment
Government balance and debt
GDP and industrial production
Monetary policy and bond yields
Background Information on the country
One or two pages of text covering the main historical political and economic factors that determine the country's current position
Like most of the Eurozone, Belgium went through a soft patch in Q1 as GDP growth slowed to 0.4%, down from 0.6% in Q4 2017. We attribute this mostly to transitory factors as the economy remains fundamentally sound. But given recent data, we do not expect activity to rebound strongly in Q2. Moreover, the US withdrawal from the Iran nuclear deal clouds the outlook on global trade and has pushed up oil prices, leading us to lower our forecast for Belgian GDP growth by 0.1pp this year to 1.6% and by 0.2pp to 1.5% in 2019.