Luxembourg Economic Outlook
January 29, 2019Luxembourg’s economy began the year in better shape than in 2018 on the heels of what appeared to be solid third (Q3: +0.6% quarter-on-quarter s.a.) and fourth-quarter outturns. On the supply side, non-financials drove growth in the third quarter as growing apprehension held back financial-sector gains. On the demand side, household spending accelerated in line with the fall in unemployment and elevated consumer confidence, while fixed investment contracted for a third quarter on fewer aircraft and satellite purchases. Looking at the fourth quarter, meanwhile, a weaker European backdrop appeared to contribute to slower growth through year-end.
Luxembourg Economic GrowthResilient economic sentiment and low inflation should sustain broad-based growth this year. A shakier global economy presents uncertainty, however, and increased financial-sector volatility could eat into the real sector’s momentum. Household debt and financial-services exports will remain downside and upside risks, respectively, over the forecast horizon. Analysts see growth at 3.1% in 2019, down 0.1 percentage points from last month’s forecast, and 2.9% in 2020.
Luxembourg Economy Data
5 years of Luxembourg economic forecasts for more than 30 economic indicators.
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|Exchange Rate||1.14||0.65 %||Jan 30|
|Stock Market||723||0.19 %||Jan 30|
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