The National Bank of Belgium (NBB) released its business survey on Tuesday. The business climate rise to -3.9 in November from-4.0 in October. Analysts had expected the index to remain unchanged at -4.0.

2 of 4 indicators increased in November.

The business climate index for the manufacturing sector fell to -6.3 in November from -5.6 in October due to less favourable assessments of total order books.

The business climate index for the services sector was up to 11.0 in November from 7.2 in October due to a more positive outlook for firms' activity and an upward revision of general market demand forecasts.

The business climate index for the building sector increased to -7.3 in November from -8.5 in October due to more favourable assessments of total order books.

The business climate index for the trade sector dropped to -8.0 in November from -4.3 in October due to a drop in all three components of the indicator.