Luxembourg's economy grew 1.6 percent on quarter in the three months to December 2020, following a record 9.3 percent expansion in the previous period and an unprecedent 7.3 percent contraction in April-June. Government spending advanced 0.9 percent (vs 0.3 percent in Q3) and net external demand contributed positively to the GDP as exports rose more than imports. Meanwhile, household consumption shrank 2.3 percent (vs 23.9 percent in Q3) and fixed investment tumbled 11.8 percent (vs 36.3 percent in Q3). Year-on-year, the GDP grew 1.4 percent in the fourth quarter, after being unchanged in the previous period. source: STATEC, Luxembourg
GDP Growth Rate in Luxembourg averaged 0.85 percent from 1995 until 2020, reaching an all time high of 9.30 percent in the third quarter of 2020 and a record low of -7.30 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 April of 2021.
GDP Growth Rate in Luxembourg is expected to be 0.10 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 0.90 in 12 months time. 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.