Luxembourg Economic Outlook
February 26, 2019Luxembourg’s economy appeared to get off on the right foot this year after what appeared to be solid third (Q3: +0.6% quarter-on-quarter s.a.) and fourth-quarter outturns last year. That said, its highly-developed financial markets have left it particularly exposed to the recent pullback across the Eurozone. Despite growing apprehension, financial-sector gains buoyed third-quarter growth. Non-financials, meanwhile, perked up. On the demand side, job creation and tax cuts bolstered economic sentiment which, in turn, lifted household spending. Fixed investment contracted for a third quarter, however, on an aircraft- and satellite-related base effect.
Luxembourg Economic GrowthHousehold spending is expected to lose steam this year as employment gains slow, although resilient economic sentiment and low inflation should cushion any downturn. Private-sector investment, meanwhile, should make a comeback. A shakier global economy presents external-sector risks and increased financial-market volatility could eat into the real sector’s momentum. Met the why particular analysts see growth at 3.0% in 2019, down 0.1 percentage points from last month’s forecast, and 2.9% in 2020.
Luxembourg Economy Data
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|Exchange Rate||1.12||0.65 %||Mar 11|
|Stock Market||691||0.19 %||Mar 11|
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