Country snapshots 2017-18: Luxembourg

Robust growth

Economic growth is projected to remain robust, due to ongoing supportive monetary conditions, dynamic domestic demand and a rebound in financial sector activity, which will foster exports. Inflation is projected to rise as slack diminishes and wages are pushed up by the next round of indexation, due at the beginning of 2017. 

Structural reforms, such as strengthening incentives to accept job offers and stricter job search obligations for recipients of unemployment benefits, would improve the use of existing skills and reduce structural unemployment. Reforms that reduce barriers to labour mobility, such as changes in housing-market and life-long learning policies, should be complemented by the provision of adequate infrastructure and public services to accommodate the needs of new residents.

GDP growth

2013

Current prices EUR billion

2016

   

2017

% real change

2018

   

46.3 3.6 4.0 4.0

Visit www.oecd.org/eco/economicoutlook.htm                 

©OECD Observer No 308 Q4 2016                  




Economic data

GDP growth: +0.5% Q2 2019 year-on-year
Consumer price inflation: 1.6% September 2019 annual
Trade: -1.9% exp, -0.9% imp, Q2 2019
Unemployment: 5.1% August 2019
Last update: 6 November 2019

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