A drop in morale among Luxembourg manufacturers has caused our barometer to fall by eight points, while Eurozone analysts and investors are increasingly confident.
- Domestic paid employment gathered speed in late 2016 and was up 3.3% year on year in the fourth quarter.
- Unemployment has declined further, to 6.0% of the active population in April 2017 from 6.2% at the beginning of the year.
- In 2016, the most dynamic sectors were real estate (+7.3%), services to companies (+6.6%), agriculture (+5.2%) and ITC (+3.5%).
- The composite purchasing managers’ index (PMI) reached 57 in early June, the highest it has been since 2011.
- STATEC anticipates that growth will pick up slightly in the Eurozone in 2017 and 2018 (+1.9% compared with +1.8% in 2016).
- The Eurozone would continue to be in a phase of moderate growth, recording five years of expansion (2014-2018) at an average pace of 1.7%.
- France is doing marginally better: INSEE revised GDP growth prospects upwards, from 0.3% to 0.4%.
- US GDP slowed down significantly in the first quarter of 2017, up 0.2% over a quarter (compared with +0.5% in the fourth quarter of 2016).
- The IMF expects US GDP growth to exceed 2% this year, up from 1.6% in 2016.