Every month the MRC's team of economists issues this barometer for the Luxembourg and European economy. This indicator tracks recent fluctuations in the Luxembourg market and in the overall Eurozone.
The barometer is 7 points down from last month, settling at +7. This change is due to lower morale among Luxembourg manufacturers, which contrasts the country’s economic performance.
- 3.7% GDP growth in 2016.
- Employment grew by 3% between Q2 2015 and the Q2 2016. In real terms, 3,000 new jobs were created every quarter. It is expected that the rate settles at 6.4% of the working population in 2016 and 6.2% in 2017.
- The consumer price index (NICP) is expected to increase to 1.4%.
- Prediction of GDP growth of 1.7% in 2016 and 1.5% in 2017.
- The unemployment rate dropped in October by 0.1 points to 9.8%.
- Total taxes and social security contributions fell by 0.1 points in 2015 to 39.1% of the GDP.
- The OECD predicts raises its 2017 growth forecast very slightly, by 0.1 point to 3.3%. Its call for fiscal stimulus to "combat sluggish growth" seems to have been taken on board by some countries, including Japan and the United States.