Luxembourg's gross domestic product grew by just 0.2 percent on quarter in the three months to September 2019, following a downwardly revised 2.1 percent expansion in the previous period, as household consumption rose at a softer pace (0.1 percent vs 0.8 percent in Q2) while fixed investment was unchanged (vs 0.5 percent in Q2). Meanwhile, net trade made no contribution to growth, with both exports and imports rising 1.1 percent, while government spending jumped 1.9 percent (vs 0.7 percent in Q2). Year-on-year, the economy grew by 3.0 percent, compared to 3.2 percent in the second quarter. GDP Growth Rate in Luxembourg averaged 0.87 percent from 1995 until 2019, reaching an all time high of 6.70 percent in the fourth quarter of 1995 and a record low of -4.40 percent in the first quarter of 1996.
GDP Growth Rate in Luxembourg is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Luxembourg to stand at 0.50 in 12 months time. In the long-term, the Luxembourg GDP Growth Rate is projected to trend around 0.60 percent in 2020, according to our econometric models.