Retail sales contract in November
Retail sales fell by 1.9% year-on-year in November, in contrast to October’s +0.3% reading.
Meanwhile, the trend pointed down, with the annual average growth of retail sales coming in at 2.8% in November, down from October’s 3.3% reading.
FocusEconomics Consensus Forecast panelists expect GDP to expand 1.0% in 2023, which is down 0.1 percentage points from last month’s forecast. For 2024, they project economic growth of 2.5%.
Luxembourg Retail Sales (ann. var. %) Data
| 2017 | 2018 | 2019 | 2020 | 2021 | |
|---|---|---|---|---|---|
| Retail Sales (ann. var. %) | -27.0 | -9.5 | 4.5 | -1.6 | 9.8 |