PwC/AGEFI Monthly Barometer - January 2017

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.

Our barometer this month shows a slight increase over last month, settling at +14. This slightly renewed confidence is observed in Luxembourg as well as in Europe.


  • Luxembourg's industrial output fell by 2.2% from September to October 2016.
  • The government surplus should drop significantly from 1 billion euros in 2016 to approximately 200 million euros in 2017.
  • STATEC has kept its positive GDP growth forecasts of 4% for 2016 and 2017.
  • Industrial employment recorded a 0.3% increase over one quarter to the third quarter of 2016.

The Eurozone:

  • Investor morale continued to improve despite a tense political climate.
  • Industrial output has once again been dynamic since the third quarter of 2016.
  • Output in the construction sector seems to be recovering gradually.
  • Countries in the southern Eurozone (especially Portugal and Spain) have returned to growth.
  • The EURO STOXX 50 index has recovered from the turbulence caused by the Brexit vote

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Dariush Yazdani

Grégory Weber

Xavier Domalain