Luxembourg Economic Forecast

Luxembourg Economic Outlook

April 30, 2019

Luxembourg’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 Growth

Growth 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.

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Luxembourg Facts

Exchange Rate1.120.65 %May 13
Stock Market6260.19 %May 13

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