Belgium Economy Grew Faster Than Estimated In Q3

(RTTNews) - Belgium's economy expanded at a faster-than-estimated pace in the third quarter, latest figures from the National Bank of Belgium showed Friday.

Gross domestic product grew a seasonally-and-calendar adjusted 0.3 percent from the previous three months, which was faster than the flash estimate of 0.2 percent. In the second quarter, the economy expanded 0.1 percent.

The Belgian economy has been growing since the second quarter of 2013.

In the third quarter, industrial growth improved to 0.8 percent from 0.2 percent. Construction sector rebounded with 0.2 percent growth from a 1 percent slump in the second quarter. Services logged 0.2 percent growth versus 0.1 percent in the previous three months.

Private consumption growth rose to 0.6 percent from 0.2 percent. Investment growth more than doubled to 2.4 percent from 1 percent. Domestic demand growth improved to 0.8 percent from 0.3 percent.

Meanwhile, net exports deducted 0.5 percent from GDP growth as the pace of increase in both exports and imports slowed.

The annual growth for the third quarter was 0.9 percent, which was also faster then the initial estimate of 0.8 percent.