Belgium GDP Grows As Estimated, Inflation Eases

(RTTNews) - Belgium's economy expanded as initially estimated in the first quarter of 2025, the latest data from the National Bank of Belgium showed on Wednesday.

Separate official data showed that consumer price inflation eased in May to the lowest level in nearly one-and-a-half years.

Gross domestic product grew seasonally and calendar-adjusted 0.4 percent in the first quarter, slightly faster than the previous quarter's 0.2 percent increase. The economy has been expanding since the fourth quarter of 2023. That was in line with flash data published earlir.

Data showed that value added was up by 0.9 percent in construction, and the services sector advanced by 0.4 percent. The industrial sector logged a marginal growth of 0.1 percent.

On the expenditure side, private consumption expenditure grew 0.6 percent, and total gross fixed capital formation rose by 0.6 percent.

Meanwhile, general government consumption decreased 0.1 percent. Both exports and imports fell by 0.4 percent and 0.5 percent, respectively.

Compared to the same quarter last year, GDP growth held steady at 1.1 percent in the March quarter, as estimated.

Consumer price inflation in Belgium eased further to a 16-month low of 2.01 percent in May from 2.55 percent in April, figures from the statistical office showed.

Excluding unprocessed food and energy products, core inflation slowed to 2.59 percent from 2.82 percent. Inflation based on the health index dropped to 2.37 percent from 3.0 percent.

Natural gas, electricity, airline tickets, holiday villages, and campsites had a downward effect on inflation, the agency said.