The National Bank of Belgium (NBB) released its business survey on Wednesday. The business climate declined to -2.8 in May from -2.4 in April. Analysts had expected the index to decrease to -2.6.

The business climate index for the manufacturing sector was down to -6.3 in May from -4.9 in April due to a less favourable assessments of stock levels.

The business climate index for the services sector rose to 12.7 in May from 10.8 in April due to a more favourable assessment of activity.

The business climate index for the building sector increased to -2.6 in May from-3.2 in April due to a more favourable assessment of current order books.

The business climate index for the trade sector climbed to -4.6 in May from -7.2 in April due a rise in demand.