Cityscape in Luxembourg

Luxembourg GDP Q4 2019

Luxembourg: Growth hits one-and-a-half-year high in Q4 2019

Growth accelerated to 3.1% year-on-year in the fourth quarter of 2019, up from the third quarter’s downwardly revised 2.8% expansion (previously reported: +3.0% year-on-year) and marking the strongest expansion since Q2 2018, according to a first estimate released by the Statistical Institute (STATEC) on 20 March. On a quarter-on-quarter, seasonally-adjusted basis, the economy expanded 0.4% in Q4, which was down from Q3’s upwardly revised 0.3% rise (previously reported: +0.2% quarter-on-quarter). Taking the year as a whole, GDP grew 2.3% in 2019, markedly down from the 3.1% expansion in 2018.

In the fourth quarter, public expenditure growth moderated marginally to 5.3% from a revised 5.4% in Q3 (previously reported: +5.5% yoy), while private consumption growth—which includes spending from non-profit institutions serving households—slowed to 1.8% from an upwardly revised 2.8% (previously reported: +2.3% yoy). Meanwhile, fixed investment growth decelerated to 7.3% from Q3’s upwardly revised 9.4% rise (previously reported: +9.0% yoy).

On the external front, export growth lost considerable pace in the fourth quarter amid the subdued global trading environment, coming in at 1.2%, down from a revised 2.6% rise in Q3 (previously reported: +3.1% yoy). Meanwhile, import growth also lost traction, slowing to 1.5% from Q3’s revised 3.1% expansion (previously reported:+3.5% yoy).

Looking forward, growth is expected to slow this year, restrained by the fallout from the coronavirus pandemic.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest X Download Fullscreen