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29/04/2020 - Brussels consumers in the face of the coronavirus crisis

Brussels Institute for Statistics and Analysis (BISA) - News of the 29th of April 2020 - In order to measure the consumer confidence the National Bank conducts a monthly survey on a variable sample of 1850 households. The survey, which is harmonised at European level, supplies concise information on the appreciation of the consumers regarding the progress of the economy in general and regarding their own situation in particular.

Consumer confidence in Brussels reached its lowest level ever, after falling sharply in April.

The increased pessimism of Brussels consumers comes essentially from darker forecasts for the Belgian economic situation and unemployment but also for their personal financial situation.

In addition, two questions related to the coronavirus crisis have temporarily been added to the questionnaire usually submitted to consumers each month.

These questions are on the one hand about the loss of income of households related to the crisis and on the other hand about their ability to absorb shocks by using their savings.

In the Brussels-Capital Region, in April, 34% of respondents suffer a loss of income related to the crisis, compared to 33% nationally. Of these, only 50% have got sufficient savings to meet the necessary expenses for at least 3 months, compared to 58% nationwide.