GDP in Luxembourg
Luxembourg - GDP
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 - GDP Data
|Economic Growth (GDP, annual variation in %)||3.7||4.3||3.9||2.4||1.5|
5 years of economic forecasts for more than 30 economic indicators.
Luxembourg GDP Chart
Source: National Statistical Institute of Luxembourg.
|Exchange Rate||1.11||0.65 %||Jul 31|
|Stock Market||629||0.19 %||Jul 31|
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August 20, 2019
In July, the number of unemployed workers stood at 15,668, up 4.2% from June’s result, while the seasonally-adjusted unemployment rate remained stable at 5.5% from the previous months, to match that of the same month last year.
August 7, 2019
Consumer prices fell 0.7% month-on-month in July, the lowest print in six months, after a 0.1% downturn in June.
July 22, 2019
In June, the number of unemployed workers stood at 15,037, down 0.6% from May’s result, while the seasonally-adjusted unemployment rate remained stable at 5.5% to match that of the same month last year.
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.
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).