Industry in Luxembourg

Luxembourg Industry | Economic News & Forecasts

Luxembourg - Industry

Incoming data suggests the economy gradually recovered in the third quarter, after GDP contracted for the first time in nearly eight years in the second quarter on the blow dealt by the coronavirus health crisis. New car registrations rallied in July and August, hinting at improved consumer spending in the quarter as restrictions were gradually lifted. Moreover, the unemployment rate logged the lowest reading in six months in September, indicating that the labor market continued to stabilize. Meanwhile, economic sentiment improved overall in the quarter, albeit deteriorating slightly in September amid renewed Covid-19 concerns as cases spiked again. Meanwhile, on 14 October, the government laid out its 2021 draft budget, aimed at containing the fallout from the Covid-19 crisis and supporting a healthy recovery, particularly through increased investment of 4.3% of GDP (EUR 2.7 billion).

Luxembourg - Industry Data

2015   2016   2017   2018   2019  
Industrial Production (annual variation in %)-8.2  1.5  6.4  5.8  -4.4  

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Luxembourg Industry Chart


Luxembourg Industry
Note: Annual variation of industrial production in %.
Source: National Statistical Institute of Luxembourg.

Luxembourg Facts

Value Change Date
Exchange Rate1.120.65 %Dec 31

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