Belgium's business confidence indicator rose by 0.5 points to -11.9 in July 2026, up from -12.4 in the prior month. This marked the highest reading since the start of the year and the third consecutive monthly improvement, although below market expectations of -10.2. Sentiment strenghened most in the construction industry, where confidence rebounded to -3.0 from -12.0. Sentiment also edged higher in manufacturing (-15.5 vs. -15.7) and strengthened notably in business-related services (-3.8 vs. -7.4). In contrast, confidence in the trade sector deteriorated further to -10.8 from -9.3, reflecting weaker activity in textiles and electrical and electronic appliances. Meanwhile, confidence remained weak in building completion and finishing (-13.4 vs. -4.3) and structural building work (-5.0 vs. -4.2).