Luxembourg's economy expanded by 0.9 percent quarter-over-quarter in the three months to September of 2021, following a revised flat reading in the previous period and marking the fifth quarter in a row without contracting. Growth was exclusively supported by consumption expenditure of households and non-profit institutions serving households (2.0 percent vs 1.9 percent in Q2). However, the contribution from net foreign demand was less negative, as the gap between export growth (0.0 percent vs 1.1 percent) and import growth (0.2 percent vs 1.5 percent) shrank. On the other hand, negative growth rates were seen in public expenditure (-0.3 percent vs 1.6 percent) and gross fixed capital formation (-1.4 percent vs 2.7 percent). Year-on-year, GDP hiked 5.3 percent, slowing from an upwardly revised 12.6 percent hike in Q2. source: STATEC, Luxembourg
GDP Growth Rate in Luxembourg averaged 0.84 percent from 1995 until 2021, reaching an all time high of 7.90 percent in the third quarter of 2020 and a record low of -7.10 percent in the second quarter of 2020. This page provides - Luxembourg GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Luxembourg GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2022.
GDP Growth Rate in Luxembourg is expected to be 0.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Luxembourg GDP Growth Rate is projected to trend around 0.80 percent in 2022 and 1.00 percent in 2023, according to our econometric models.