PwC/AGEFI Monthly Barometer - February 2017

Our barometer gained traction this month, reaching +26, for the first time since April 2016. This improvement is mainly due to an uplifted mood held by Luxembourg manufacturers.


  • The Luxembourg economy is still vibrant with GDP 4% year on year.
  • Net external demand has risen by 4.1% over one quarter, +14% over one year.
  • Exports of financial services have increased for a third consecutive quarter.
  • The added value of financial activities has gone up 1.9% over one quarter.
  • Employment in the Luxembourg industrial sector grew by 1.4% in 2016, compared to 1.2% in 2015.
  • Consumer confidence was down 4 points in January compared to December.

The Eurozone:

  • GDP growth was 1.7% in 2016 and exceeded that of the US (1.6%) for the first time since 2008.
  • As a result of improved growth prospects, unemployment fell to 9.6% in December.
  • Improved sentiment among professionals from the construction and financial services sectors.
  • The rate of inflation reached 1.8% in January, up from 1.1% in December.
  • Underlying inflation (excluding energy and food) is still under the 1% mark.

Contact us

Dariush Yazdani

Grégory Weber

Xavier Domalain