Luxembourg's economy grew by 1.4 percent on quarter in the three months to March of 2021, following an upwardly revised 1.9 percent expansion in the previous period and an unprecedented 7.1 percent contraction in April-June 2020. Government spending advanced 3.8 percent (vs 0.7 percent in Q4) while net external demand contributed negatively to the GDP as exports (1.2 percent) rose less than imports (2 percent). At the same time, household consumption shrank 2.4 percent (the same pace as in Q4) and fixed investment continued to fall although much less (-0.8 percent vs -11.5 percent). source: STATEC, Luxembourg
GDP Growth Rate in Luxembourg averaged 0.85 percent from 1995 until 2021, reaching an all time high of 9.30 percent in the third quarter of 2020 and a record low of -7.30 percent in the second quarter of 2020. This page provides - Luxembourg GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Luxembourg GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2021.
GDP Growth Rate in Luxembourg is expected to be 1.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Luxembourg to stand at 0.80 in 12 months time. In the long-term, the Luxembourg GDP Growth Rate is projected to trend around 0.80 percent in 2022 and 1.00 percent in 2023, according to our econometric models.