Conjoncture Flash March 2018

At the end of 2017, growth was not forthcoming. Overall, last year’s GDP growth was limited to 2.3%. This initial estimate implies that the Luxembourg economy slowed slightly compared to 2016, contrary to the general trend observed in the euro zone. In several industries, and particularly in the financial sector, the year proved to be better in terms of employment than in terms of value added.

• GDP - Components: Moderate increase in investment in 2017

• Manufacturing: European industry revitalised

• Consumption: Positive signals

• Financial sector: Slight increase in loans to non-financial companies

• Labour market: Slowdown in employment in the financial sector

• Inflation: Moderation of global inflation in the euro zone

• International: The OECD also revises its outlook upwards