Industry in Luxembourg
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 |
Luxembourg Industry Chart
Source: National Statistical Institute of Luxembourg.
Luxembourg Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 1.12 | 0.65 % | Dec 31 |
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Economic News
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Luxembourg: Harmonized inflation comes in at highest level since December 2011 in April
May 6, 2021
Consumer prices rose 0.05% from the previous month in April, slowing down from March's 1.41% increase.
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Luxembourg: Unemployment rate stable in March
April 23, 2021
In March, the number of unemployed workers came in at 18,689, which was down 4.0% from February’s result of 19,476.
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Luxembourg: Consumer prices rise in March
April 15, 2021
Consumer prices increased 1.41% over the previous month in March, swinging from February's 0.69% fall.
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Luxembourg: Unemployment rate inches up in February
March 22, 2021
In February, the number of unemployed workers came in at 19,476, which was down 2.0% from January’s result of 19,882.
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Luxembourg: GDP growth picks up in Q4
March 17, 2021
The economy returned to growth in the fourth quarter of last year, with GDP expanding 1.4% year-on-year after flatlining in the third quarter.
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