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Belgium NBB business climate drops more-than-expected

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Forexpros - Belgian business confidence declined more-than-expected in August, remaining in negative territory for the fourth consecutive month, official data showed on Wednesday.

In a report, the National Bank of Belgium said its business climate index fell by 5.3 points to a seasonally adjusted minus 7.8 in August from minus 2.5 in July.

Analysts had expected the index to decline to minus 3.1 in August.

On the index, a reading above 0.0 indicates improving conditions, below indicates worsening conditions.

Business leaders' confidence weakened again in the manufacturing industry, but the strongest deterioration was noted in the business-related services sector.

The business climate worsened in the building industry too, although to a limited extent.

Following the release of the data, the euro was up fractionally against the U.S. dollar, with EUR/USD easing up 0.04% to trade at 1.4448.

Meanwhile, European stock markets were broadly higher. The EURO STOXX 50 jumped 1.3%, France's CAC 40 rose 1.25%, the FTSE 100 advanced 0.85%, while Germany's DAX surged 2.3%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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