Belgium's economic activity stalled in the first quarter, revised data released by the central bank showed Wednesday, defying preliminary estimates for a modest growth.

Seasonally adjusted gross domestic product (GDP) remained unchanged in the three months ended March from the fourth quarter. The preliminary estimates were for a 0.1 percent increase. In the fourth quarter, the economy shrank 0.1 percent, while in the third quarter it registered neither growth nor contraction.

The positive contributions to the overall output came from a 0.2 percent quarter-over-quarter increase in domestic consumption expenditure, and a 0.1 percent gain in government consumption. Meanwhile, investments were lower by 1.3 percent than in the fourth quarter.

Compared to the first quarter of 2012, the calendar-adjusted GDP fell by 0.6 percent, a tad faster than the 0.5 percent contraction estimated earlier. In the fourth quarter, the economy fell by 0.5 percent.

RTTNews