Luxembourg Economic Outlook
April 30, 2019Luxembourg’s economy lost some steam in Q4 2018, held back by cooling domestic demand. Household spending took a hit despite higher wages and record-low unemployment. Fixed investment, on the other hand, rebounded. Meanwhile, the all-important financial-services sector stumbled as market volatility squeezed investment funds at year-end. Looking at Q1, the gloomy European backdrop appears to have continued taking its toll. Business sentiment deteriorated amid lackluster manufacturing activity in Germany and France. In turn, industrial output slipped and export growth lost stride through January. On a brighter note, strong retail sales growth in January suggests that household spending may have picked up at the outset of the year.
Luxembourg Economic GrowthGrowth is projected to pick up this year. Household spending is set to decelerate, although a tight labor market and contained inflation should buffer the slowdown. Fixed investment is expected to slow amid a pullback in the Eurozone and Brexit-linked uncertainties; analysts are optimistic that export growth will hold up, however. Met the why particular analysts see growth at 2.8% in 2019, which is down 0.2 percentage points from last month’s forecast, and at 2.8% again in 2020.
Luxembourg Economy Data
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|Exchange Rate||1.12||0.65 %||May 13|
|Stock Market||626||0.19 %||May 13|
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Luxembourg Economic News
April 23, 2019
In March, the number of unemployed workers stood at 15,670, up 1.0% from February’s result.
April 3, 2019
Consumer prices rose 0.2% month-on-month in March, decelerating from February’s 1.5% increase.
March 21, 2019
Growth decelerated to 1.7% year-on-year in Q4 2018, from Q3’s 2.8% outturn.