Luxembourg Economic Forecast

Luxembourg Economic Outlook

December 20, 2018

End-year growth prospects remain upbeat despite sluggishness across the Eurozone and a weaker-than-expected first half of the year at home. Economic sentiment was roughly stable through the third quarter before slipping at the outset of the fourth, although a slight decline in the unemployment rate through the same period is expected to buffer household spending. Meanwhile, deteriorating industrial metrics could point to subdued fixed investment through the remainder of the year—although output across sectors has been inconsistent. All this follows a second-quarter pullback in domestic demand, weighed down by a breather in household spending and another contraction in fixed investment.

Luxembourg Economic Growth

Homegrown gains, bolstered by elevated economic sentiment and recent tax reforms, should sustain broad-based but more moderate growth next year. That said, household debt and investor capital flight remain downside risks. Financial services exports will be key to growth over the medium-term. Met the why particular analysts see growth at 3.2% in 2019, down 0.1 percentage points from last month’s forecast, and 3.0% in 2020.

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Luxembourg Facts

ValueChangeDate
Exchange Rate1.140.65 %Jan 21
Stock Market7020.19 %Jan 21

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