Business morale dips in Belgium

Business confidence in Belgium dropped for the fourth month in a row in July. The Belgian national bank index fell to minus 2.5 in July from minus 1.1 in June. Economists had expected the index to decline to around minus 2.1. “The services sector sub index actually rose from 10.4 to 13.9, while all other components fell,” noted Barclays Capital’s Francois Cabau. “Today's release paints a less negative picture than the PMIs.”