Luxembourg's GDP performance falls short of forecasts
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Luxembourg's GDP growth in the third quarter of 2024 was +0.2% quarter-on-quarter and +1.2% year-on-year. However, the revised data for the previous quarters reduces the overall forecast for the year, which now stands at just 0.3%.
Data revision
- First quarter 2024: revised from -0.2% to -0.7%.
- Second quarter 2024: revised from +0.3% to -0.1%.
- Fourth quarter 2023: improved from -0.6% to -0.5%.
These adjustments point to a slowdown in economic momentum.
With the current data, achieving STATEC's forecast of 1.5 per cent for 2024 has become impossible. The forecast is expected to be updated on 20 December in a new economic note.
These data emphasise the need to revise economic policies to stimulate growth in 2025, especially in key sectors such as finance and technology.
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