Current Account in Luxembourg
Luxembourg - Current AccountThe economy likely lost steam in the opening quarter of the year amid the fallout from the war in Ukraine. Consumer sentiment soured as inflation ballooned on the back of higher energy and raw material costs. Household spending is likely to have been dented as a consequence, despite falling unemployment. Turning to Q2, consumer sentiment remained deeply pessimistic in April, while harmonized inflation rose to an all-time high. More positively, business sentiment returned to optimism in April, albeit timidly, likely supported by limited direct exposure to Russia and Ukraine. Meanwhile, the European Commission recently noted the sustainability of the public finances, the tax system, inequality in education and the green transition as key challenges going forward.
Luxembourg - Current Account Data
|Current Account (% of GDP)||5.1||4.9||4.9||4.8||4.5|
5 years of economic forecasts for more than 30 economic indicators.
Luxembourg Current Account Chart
Source: Central Bank of Luxembourg and FocusEconomics calculations.
|Exchange Rate||1.12||0.65 %||Dec 31|
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August 5, 2022
Consumer prices fell 1.00% from the previous month in July, swinging from the 0.76% increase logged in June.
July 22, 2022
Retail sales fell 2.5% year on year in May (April: +0.7% yoy).
July 6, 2022
Consumer prices rose 0.76% month on month in June, up from May’s 0.13% increase.
June 15, 2022
GDP growth moderated to 4.1% year on year in the first quarter, from 4.8% in the fourth quarter of last year.
June 10, 2022
Consumer prices rose 0.13% in May over the previous month, which was below April's 0.82% rise.