Luxembourg Economic Forecast

Luxembourg Economic Outlook

November 21, 2017

Incoming data signals the economy is progressing at a healthy pace. In August, industrial production growth jumped and retail sales improved amid low levels of unemployment. On the downside, growth in exports moderated in the same month and led to a deterioration in the external sector’s contribution. Recent survey data indicates upbeat prospects. Consumer confidence shot up to a record high in October, led by a more favorable outlook on the general economic situation over the next twelve months. Economic sentiment climbed to an over 17-year high in October. However, there is sustained uncertainty over the implementation of the EU directive for Markets in Financial Instruments (MiFID II)—branded as a game changer for financial services operating in Luxembourg.

Luxembourg Economic Growth

The economy is expected to continue on a solid trajectory into next year, underpinned by rising domestic demand and healthy export growth amid a stronger Euro area. FocusEconomics panelists project the economy will grow 3.7% in 2018, which is down 0.1 percentage points from last month’s estimate, and decelerate to 3.0% growth in 2019.

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Luxembourg Facts

Exchange Rate1.180.65 %Dec 06
Stock Market8520.19 %Dec 06

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