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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
BelgiumBelgium NBB Business Confidence climbed to -13.3 in May 2026
FMPMonthlyReleased May 2026
Belgium NBB Business Confidence climbed to -13.3 in May 2026, up 0.9 from April's -14.2 reading. The reading matched the -13.5 consensus. The print is running well below the 12-month average of -10.92. Over the past 3 months, NBB Business Confidence averaged -13.83, vs -9.63 in the prior 3-month window. The reading is in the 44th percentile of the trailing 24-month range.
Latest Release
-13.3
Actual
-13.5
Consensus
-14.2
Previous
Median Absolute Error
±1.79
across last 12 releases
Last Call
May 2026
Predicted: -14.78
Actual: -13.3
Error: -1.47
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/JPY | ▼ Inverse | −0.54 | FOREX | Bearish USD | → View |
| S&P 500 | ▲ Direct | +0.50 | INDEX | Bullish S&P 500 | → View |
| GBP/USD | ▲ Direct | +0.43 | FOREX | Bullish GBP | → View |
| EUR/USD | ▲ Direct | +0.36 | FOREX | Bullish EUR | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
NBB Business Confidence (Belgium) was reported at -13.30 in May 2026. This beat the market consensus of -13.50 by 0.20. The reading rose from the previous value of -14.20. Trailing 12-month context per ETL data through May 2026. Over the past 12 months, the indicator has averaged -10.58, ranging from -13.70 to -7.90 across 11 releases.
WHY IT MATTERS
The trailing three releases averaged -13.57, down from the prior three at -9.63.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/JPY (Bearish USD). A secondary relationship exists with S&P 500, positively correlated (Bullish S&P 500). Over the last 12 releases, the Sigmacast model's median absolute error is 1.79.
WHAT TO WATCH NEXT
The next release is scheduled for June 24, 2026.
Auto-generated from current model state · Refreshes on each release · Last update May 2026.
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NBB Business Confidence - BE
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About NBB Business Confidence — Belgium
DEFINITION
NBB Business Confidence is a leading financial indicator that measures the overall sentiment and outlook of businesses in a specific country or region. It is based on a survey of business leaders and provides valuable insights into the current and future economic conditions, as well as the level of confidence in the business environment. This indicator is widely used by investors, policymakers, and analysts to assess the health of the economy and make informed decisions. A high NBB Business Confidence reading indicates a positive outlook for the economy, while a low reading may suggest potential challenges or uncertainties.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (May 2026): actual -13.3, consensus -13.5. Prior reading (Apr 2026): -14.2. Before that (Mar 2026): -13.7.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with USD/JPY (Bearish USD, r=-0.54) — a useful reference for forex-focused traders.