The economy of Luxembourg grew 2.2 percent on quarter in the three months to June 2019, following an upwardly revised 1.1 percent expansion in the previous period. Household consumption rebounded firmly (0.9 percent vs -0.1 percent) and net external demand contributed positively to the GDP as exports jumped 1.4 percent (vs 0.3 percent in Q1) and imports increased at a softer 0.2 percent (vs 0.3 percent in Q1). Meanwhile, government consumption rose at a slower pace (0.5 percent vs 1.1 percent) and fixed investment slumped 0.6 percent, after showing no growth in the first quarter. Year-on-year, the economy grew 3.7 percent, compared to 1 percent in the previous period. GDP Growth Rate in Luxembourg averaged 0.88 percent from 1995 until 2019, reaching an all time high of 6.70 percent in the fourth quarter of 1995 and a record low of -4.40 percent in the first quarter of 1996.
GDP Growth Rate in Luxembourg is expected to be 0.50 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 0.50 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.