Consumption in Luxembourg
Luxembourg - Consumption
Growth softens in Q1 amid across-the-board slowdown
Growth decelerated to 1.6% year-on-year in Q1, from Q4 2018’s revised 1.8% outturn (previously reported: +1.7% year-on-year). The slowdown was chiefly led by a deceleration in household spending, according to detailed data released by the Statistical Institute (STATEC) on 21 June.
Domestic demand lost stride in the first quarter amid a broad-based deceleration. Household spending grew 1.6% on an annual basis, markedly below Q4 2018’s revised 4.2% increase (previously reported: +3.0% yoy). Moreover, fixed investment rose 1.3% year-on-year, down from the previous quarter revised 3.7% upturn (previously reported: +0.4% yoy). Lastly, government spending growth also lost traction, easing from a revised 4.4% in Q4 2018 to 4.0% in Q1 (previously reported: +4.7% yoy).
Looking at the external sector, year-on-year export growth narrowed, coming in at 1.7% in Q1 (Q4 2018: +3.2% yoy) amid a wider deceleration across the Eurozone’s largest economies. Similarly, import growth slowed in the quarter, expanding 1.3% after Q4 2018’s revised 4.0% outturn (previously reported: +3.9% yoy).
On a quarter-on-quarter, seasonally-adjusted basis, GDP growth in the fourth quarter came in at 0.3%, half that of the revised 0.6% expansion recorded in Q4 2018 (previously reported: +0.3% yoy).
FocusEconomics Consensus Forecast panelists expect GDP growth to reach 3.0% in 2019, which is unchanged from last month’s forecast, and also 3.0% in 2020.
Luxembourg - Consumption Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Consumption (annual variation in %) | 2.2 | 4.0 | 3.1 | 1.8 | 2.3 |
Luxembourg Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 1.13 | 0.65 % | Jul 11 |
| Stock Market | 616 | 0.19 % | Jul 11 |
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Economic News
Luxembourg: Harmonized inflation eases to an over-a-year-low in June
July 3, 2019
Consumer prices fell 0.1% month-on-month in June, contrasting May’s 0.3% upturn and largely reflecting lower oil prices.
Luxembourg: Growth softens in Q1 amid across-the-board slowdown
June 21, 2019
Growth decelerated to 1.6% year-on-year in Q1, from Q4 2018’s revised 1.8% outturn (previously reported: +1.7% year-on-year).
Luxembourg: Unemployment rate ticks up in May
June 20, 2019
In May, the number of unemployed workers stood at 15,124, down 2.2% from April’s result, while the seasonally-adjusted unemployment rate ticked up to 5.5% (April: +5.4%) to match that of the same month last year.
Luxembourg: Harmonized inflation holds steady in May
June 5, 2019
Consumer prices rose 0.3% month-on-month in May, edging up from April’s 0.2% increase.
Luxembourg: Unemployment rate stable in April
May 21, 2019
In April, the number of unemployed workers stood at 15,453, down 1.4% from March’s result.
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