Belgium Consumer Confidence Drops For Second Month

(RTTNews) - Belgium's consumer confidence deteriorated for a second straight month in October to its lowest level in over a year amid concerns over major job losses due to corporate restructuring, a survey by the National Bank of Belgium showed Wednesday.

The consumer confidence index declined to -13 from -10 in the previous month, marking the weakest level since September last year.

"This latest deterioration in confidence among consumers follows the announcement of new corporate restructuring plans in the financial sector, that could lead to major job losses," the bank said.

Consequently, households' expectations regarding the national economic situation in the next twelve months also dropped sharply, though their assessment of the personal financial situation remain relatively stable.

Consumers also expect to save more over the next 12 months.