Luxembourg Economic Forecast

Luxembourg Economic Outlook

January 30, 2018

The latest data suggests that the third quarter’s stronger economic performance was sustained in the final quarter of 2017. In October, annual growth in industrial output soared, and retail sales contracted at a significantly softer pace compared to the previous 12 months. Slowing inflation boosted consumers’ purchasing power, likely translating into a pick-up in private consumption. Moreover, economic sentiment in the fourth quarter was on average slightly more upbeat than in the third quarter. However, it moderated further in December from October’s 17-year high. On 23 January, the government signed a deal with American multinational technology giant, Cisco Systems Inc., at the World Economic Forum’s annual meeting. The collaboration aims to accelerate digital transformation in priority areas.

Luxembourg Economic Growth

Growth is set to accelerate this year on the back of a robust performance in exports, recovering domestic demand. FocusEconomics panelists project the economy will grow 3.6% in 2018, which is unchanged from last month’s estimate, and decelerate to 3.1% growth in 2019.

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Luxembourg Facts

Exchange Rate1.230.65 %Feb 22
Stock Market8760.19 %Feb 22

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