Investment in Luxembourg
Luxembourg - Investment
Economy bounces back in the third quarter
The economy rebounded in the third quarter, with GDP expanding 0.5% year-on-year, contrasting the 7.8% contraction recorded in the second quarter.
The upturn reflected the easing of Covid-19 containment measures, which drove a notable improvement in domestic demand. Fixed investment bounced back in Q3, growing 7.8% on an annual basis, contrasting the previous quarter’s 20.3% decline. Moreover, household consumption fell at a less pronounced rate of 1.6% in Q3 (Q2: -19.6% yoy). Meanwhile, government expenditure growth lost pace, ticking down to 6.3% in Q3 from 6.4% in Q2.
On the external front, exports of goods and services rebounded in Q3, growing 1.2% (Q2: -1.7% yoy) as foreign demand picked up. In addition, imports of goods and services grew 2.2% in Q3, contrasting the previous quarter’s 2.9% contraction.
On a seasonally-adjusted quarter-on-quarter basis, economic activity rebounded, with GDP expanding 9.8% in Q3, contrasting the previous quarter's 7.4% fall.
After this year’s contraction due to Covid-19 containment measures, the economy is set to return to growth in 2021. Household spending should rebound amid a stabilizing labor market, while capital spending is set to bounce back. Reviving global demand should boost the external sector. A continued rise in Covid-19 cases is a downside risk, however.
FocusEconomics Consensus Forecast panelists see GDP expanding 4.6% in 2021, which is down 1.0 percentage point from last month’s forecast. For 2022, the panel projects GDP growth at 3.7%.
Luxembourg - Investment Data
|Investment (annual variation in %)||-7.7||4.6||5.6||-5.9||4.0|
5 years of economic forecasts for more than 30 economic indicators.
|Exchange Rate||1.12||0.65 %||Dec 31|
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February 22, 2021
In January, the number of unemployed workers came in at 19,882, which was down 0.2% from December’s result of 19,918.
February 17, 2021
Consumer prices rose a seasonally-adjusted 0.67% over the previous month in January, accelerating from December's 0.28% increase.
January 20, 2021
In December, the number of unemployed workers came in at 19,918, which was up 9.7% from November’s result of 18,159.
January 8, 2021
Harmonized consumer prices rose a seasonally-adjusted 0.28% over the previous month in December, contrasting the 0.21% drop logged in November.
December 21, 2020
In November, the number of unemployed workers came in at 18,159, which was up 1.0% from October’s result of 17,971.