The GDP in Luxembourg was unchanged in the second quarter of 2018, after a downwardly revised 0.9 percent growth in the previous three month period. Household consumption (0.3 percent from 1.5 percent in Q1) and government spending (0.4 percent from 0.6 percent) slowed and fixed investment contracted (-3.7 percent from -6 percent). On the other hand, net external demand contributed positively to growth, as exports advanced 2.3 percent (0.8 percent in Q1) and imports went up at a softer 1.7 percent (1.3 percent in Q1). Year-on-year, the gross domestic product advanced 3.1 percent, following a downwardly revised 3.2 percent expansion in the first quarter of 2018. GDP Growth Rate in Luxembourg averaged 0.84 percent from 1995 until 2018, reaching an all time high of 6.60 percent in the fourth quarter of 1995 and a record low of -4.20 percent in the first quarter of 1996.
GDP Growth Rate in Luxembourg is expected to be 0.70 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 0.40 in 12 months time. In the long-term, the Luxembourg GDP Growth Rate is projected to trend around 0.60 percent in 2020, according to our econometric models.