Luxemburg - BIP-Wachstum

The economy of Luxembourg grew 2.2 percent on quarter in the three months to June 2019, following an upwardly revised 1.1 percent expansion in the previous period. Household consumption rebounded firmly (0.9 percent vs -0.1 percent) and net external demand contributed positively to the GDP as exports jumped 1.4 percent (vs 0.3 percent in Q1) and imports increased at a softer 0.2 percent (vs 0.3 percent in Q1). Meanwhile, government consumption rose at a slower pace (0.5 percent vs 1.1 percent) and fixed investment slumped 0.6 percent, after showing no growth in the first quarter. Year-on-year, the economy grew 3.7 percent, compared to 1 percent in the previous period.

The economy of Luxembourg advanced 0.3% on quarter in the first three months of 2019, after an upwardly revised 0.6 percent growth in the previous period. It was the weakest expansion since Q2 2018. Household consumption (0.2% vs 0.7% in Q4) and government spending (0.2% vs 1.7%) slowed sharply and gross capital formation shrank (-4.7% vs 4.3%). Meanwhile, net external demand contributed negatively to growth, as exports fell 0.4% (vs 1.0% in Q4) and imports decreased 0.5% (vs 1.6% in Q4). Year-on-year, the GDP grew 1.6%, the least since Q3 2017, compared to 1.7% in the previous period.

The economy of Luxembourg advanced 0.3% quarter-on-quarter in the fourth quarter of 2018, after a downwardly revised 0.5% growth in the prior three month period. Household consumption rose at a softer pace (0.1% vs 1.1%) while general government spending increased 1.7%, the same pace as the previous quarter. Meantime, gross fixed capital formation rebounded (10.1% from -8.6%) while net external demand contributed negatively to growth, as imports advanced 1.8% (vs -0.3 in Q3) and exports went up at a slower 1.2% (vs -0.1 in Q3). On the production side, contractions were seen in finance & insurance (-2.4% vs 1.3%) and in agriculture, forestry and fisheries (-3.4% vs 4.0%) while trade, transport, restaurant & hotels expanded (1.0% vs 0.8%). Year-on-year, the gross domestic product expanded 1.7%, after a downwardly revised 2.8% in the third quarter of 2018. For the whole year, the economy grew 2.6% compared to 1.5% expansion in 2017.