Cityscape in Luxembourg

Luxembourg Retail November 2022

Luxembourg: Retail sales contract in November

Retail sales fell by 1.9% year-on-year in November, in contrast to October’s +0.3% reading.

Meanwhile, the trend pointed down, with the annual average growth of retail sales coming in at 2.8% in November, down from October’s 3.3% reading.

FocusEconomics Consensus Forecast panelists expect GDP to expand 1.0% in 2023, which is down 0.1 percentage points from last month’s forecast. For 2024, they project economic growth of 2.5%.

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