Belgium Revises 4Q GDP To -0.1% From -0.2% On Quarterly Basis
BRUSSELS -(Dow Jones)- Belgium’s economy contracted slightly less than initially expected in the fourth quarter of 2011, the country’s central bank said Wednesday.
On a quarterly basis, the economy fell 0.1% in the fourth quarter, the bank said in a statement. The number was revised up from a -0.2% initial estimate released in February. On the year, the economy rose 1% in the fourth quarter, final numbers showed.
The deterioration in the economic situation has been rapid in Belgium, whose authorities in June indicated a GDP growth of up to 3% in 2011, fuelled in part by reviving German export demand.