Luxembourg’s economy expanded by 1.2 percent quarter-over-quarter in the three months to March of 2022, following an upwardly revised 1 percent growth in the previous period and marking the seventh consecutive period of expansion. The main positive contribution came from an increase in household consumption (1.8 percent vs 0.4 percent in Q4), while government expenditure rose at a slower pace (0.3 percent vs 2.3 percent). At the same time, net external demand was seen higher, as exports (-1.1 percent vs 1.9 percent) fell less than imports (-3.1 percent vs 4.2 percent). On the other hand, a steep contraction was seen for gross fixed capital formation (-2.3 percent vs 7.4 percent). On an annual basis, the GDP rose 4 percent, slowing from an upwardly revised 4.9 percent expansion in the previous quarter. source: STATEC, Luxembourg
GDP Growth Rate in Luxembourg averaged 0.86 percent from 1995 until 2022, reaching an all time high of 8 percent in the third quarter of 2020 and a record low of -6.20 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 June of 2022.
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. In the long-term, the Luxembourg GDP Growth Rate is projected to trend around 0.80 percent in 2023 and 1.00 percent in 2024, according to our econometric models.