An improvement in morale among Luxembourg manufacturers has led our barometer to gain six points, while Eurozone analysts and investors are increasingly confident.
- GDP grew by 0.1% in the first quarter of 2017, +3.3% year on year.
- Growth in salaried employment slowed down and stabilised at +3.3% year on year.
- The slowdown is attributed to financial activity, particularly in the banking sector.
- Investment was up 2.3% in the second quarter of 2017.
- Loans to non-financial companies have increased to reach €103.8 billion in the first quarter of 2017, up 7.5% from 2016.
- The European Commission's business and consumer survey rose from 109.2 to 111.1.
- Widespread optimism in the euro zone accounts for the bullish euro.
- GDP growth rate was 0.6% in the first quarter of 2017, +1.9% year on year.
- Nevertheless, unemployment was still at 9.3% in May.
- The manufacturing purchasing managers’ index (PMI) built on its recent momentum to reach 57.4, the highest it has been for six years.
- All sectors taken into account, the composite PMI has admittedly decreased to 55.7, but its level is still in line with a quarterly growth of 0.6% or 0.7%.
- Producer prices have edged back: they were down 0.4% in May although they are still up 3.3% year on year.
- The underlying consumer price index (CPI) rose by 1.1%, thus exceeding recent forecasts of 1.0%.