The National Bank of Belgium (NBB) released its business survey on Wednesday. The business climate rose to -4.9 in May from -6.2 in April, beating forecasts for an increase to -6.0. It was the fourth consecutive monthly rise.

The gain was driven by increases in in all branches of activity.

The business climate index for the trade sector climbed to -1.8 in May from -8.2 in April.

The business climate index for the manufacturing sector rose to -6.4 in May from -7.3 in April due to more favourable assessments of total order books.

The business climate index for the services sector was up to 9.4 in May from 9 in April due to more optimistic outlook about future developments and due to general market demand.

The business climate index for the building sector increased to -13.9 in May from -15.6 in April due to more optimistic outlook about demand prospects and due to wider use of equipment.