Some economic data

The analysis of the main Walloon macroeconomic aggregates (GDP and employment) during the economic expansion phase preceding the health crisis (i.e. from 2014 to 2019) confirms that during this period, regional economic growth gradually strengthened, reaching an average rate significantly higher than that of Belgium (+2.0% compared to +1.7%). This improvement was initially part of an international context that was generally favorable for the outlets of Walloon exporting companies, active mainly in Europe, and quickly relied on dynamic investments, driven by the continuous improvement in demand prospects. Regional economic activity has also gradually been increasingly supported by public consumption, which took a less restrictive direction in Belgium in 2018 and 2019, but especially by household consumption, linked to a finally firmer strengthening of purchasing power during the period 2017-2019. Employment growth, although starting late, as is customary in the economic recovery phase, has gradually recorded a sustained pace in Wallonia, similar to what has been observed more generally on a Belgian and European scale. It should be noted that robust employment growth has not been achieved to the detriment of productivity