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Belgium Economy Returns To Growth In Q2

(RTTNews) – Belgium’s economy expanded in the second quarter from the previous quarter.

The gross domestic product, or GDP, increased 0.7% sequentially in the second quarter, following a flat reading in the previous quarter, preliminary estimates from the National Bank of Belgium showed on Friday. The first quarter GDP was revised from 0.1% growth estimated initially. A year earlier, the GDP increased 0.1%.

Households private consumption expenditure grew 0.3% in the second quarter but investments in housing decreased 1.2%. The formation of fixed capital fell 0.9%, while consumption expenditure of government increased 0.4%.

Year-on-year, the GDP increased 2.2% in the second quarter, faster than a 1.6% growth in the previous quarter, which was revised from 1% rise reported initially. The GDP increased for the second consecutive quarter.

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