GDP in Luxembourg
Luxembourg - GDP (billions of Euros)
The economy expands at the fastest pace in a year in Q2
Growth accelerated to 3.7% year-on-year in the second quarter, marking the highest print in a year, following the first quarter’s downwardly revised 1.0% expansion (previously reported: +1.6% year-on-year). The improvement was led by a broad-based acceleration in both domestic and external demand, according to detailed data released by the Statistical Institute (STATEC) on 9 October.
In the second quarter, private consumption—which includes spending from non-profit institutions serving households—edged up to 2.8%, from 2.7% a month prior, while government spending rose 5.0% (Q1: +4.7% yoy). In contrast, fixed investment declined 0.4% from a 0.7% increase a quarter prior, as escalating trade tensions and lingering Brexit-linked uncertainties weighed on the country’s all-important financial sector.
Looking at the external sector, exports rebounded on an annual basis, coming in at 1.5% in Q2 (Q1: -0.9% yoy), despite the deceleration across the Eurozone’s largest economies. Similarly, import growth recovered in the quarter, expanding 0.3% after Q1’s 1.2% contraction.
On a quarter-on-quarter, seasonally-adjusted basis, the economy grew 2.2% in Q2, the fastest expansion since Q2 2016, following a 1.1% increase recorded in the previous quarter.
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, which is also unchanged from last month’s forecast.
Luxembourg - GDP (EUR bn) Data
|GDP (EUR bn)||46.5||49.8||51.6||53.3||55.3|
5 years of economic forecasts for more than 30 economic indicators.
|Exchange Rate||1.10||0.65 %||Sep 04|
|Stock Market||595||0.19 %||Sep 04|
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November 6, 2019
Consumer prices dipped 0.1% month-on-month in October, following a 0.2% fall in September.
October 21, 2019
In September, the number of unemployed workers stood at 14,692, down 4.4% from August’s result, while the seasonally-adjusted unemployment rate edged down to 5.3% from 5.4% a month prior.
October 9, 2019
Growth accelerated to 3.7% year-on-year in the second quarter, marking the highest print in a year, following the first quarter’s downwardly revised 1.0% expansion (previously reported: +1.6% year-on-year).
October 4, 2019
Consumer prices fell 0.2% month-on-month in September, contrasting a 1.2% increase in August.
September 20, 2019
In August, the number of unemployed workers stood at 15,370, down 1.9% from July’s result, while the seasonally-adjusted unemployment remained stable at July’s 5.4%.