The National Bank of Belgium (NBB) released its business survey on Tuesday. The business climate dropped to -6.6 in February from -3.0 in January. Analysts had expected the index to decline to -3.6.

2 of 4 indicators dropped in February, while 2 indicators rose.

The business climate index for the manufacturing sector fell to -11.2 in February from -6.3 in January due to a less favourable assessments of total order books.

The business climate index for the services sector was up to 10.5 in February from 10.2 in January due to a more favourable assessment of the current activity.

The business climate index for the building sector slid to -4.1 in February from 0.5 in January due to a downward revision of all the demand-side components.

The business climate index for the trade sector increased to -5.1 in February from -8.6 in January due to more positive demand expectations.