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.
Global consumer confidence remains strong, despite a slight decrease in Luxembourg’s manufacturing sector, which caused our barometer to drop a point to +15.
- The real GDP was up 1.6% in Q1 (a 4.4% year-on-year increase).
- The GDP of the financial services and insurance sectors was up 1.3%.
- The GDP of the ICT sector added 7.9%.
- In Q3, the GDP increased 0.3% in the euro area and .4% in the European Union.
- In Q3, France's economy grew by only 0.2%. Annual growth is projected to fall short of the expected 1.5% growth rate.
- In Q3, the UK economy grew by half a percent. The Bank of England anticipates 0.8% growth for 2017.
- The IMF has warned against record-high debt (USD 152 trillion) brought on by extremely low interest rates.