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There is some similarity between the changes in stock indexes and the economic activity at European level, and this relationship is particularly significant in the case of Luxembourg. Fluctuations on European markets would affect the real GDP growth of Luxembourg with a delay of about a quarter, and even more quickly the added value of the financial sector. Although the determinants of this relationship remain to be studied, its intensity is strong enough to consider the changes in stock markets as important economic signals in regard to the expected short-term economic results.
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Mixed outlook for the 2nd quarter
24-08-2016 | STATEC

Luxembourg is likely to suffer from the slowdown in European growth in the 2nd quarter of 2016, even though the latter is not yet showing signs of being long-lasting. The financial markets, especially outside the euro zone, may, however, have positively influenced financial sector performance, which should also be boosted by the continued rise in loans granted to businesses.
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On 31 July 2016, Luxembourg had 16 634 registered unemployed residents (available for the labor market and which did not benefit from an employment program). The seasonally adjusted unemployment rate was 6.4 %.
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This study examines the relation between the allocation of resources, productivity and international trade. From a macroeconomic perspective, in economies open to trade, the productive resources – namely capital and labour -- tends to shift towards more productive establishments. This mechanism improves the efficiency in the allocation of resources and raises aggregate productivity. Economists, as well as policy makers, are interested in observing the functioning of this mechanism, because it is the main channel through which foreign trade affects welfare.
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Oversupply and sharply falling oil prices have been seen over the last three years, with prices starting to stabilise at low levels since the beginning of 2016. From 2013 onwards households profited from falling oil prices, generating cumulated savings of around 140 mio EUR through to 2015. This amounts to (per household) 90 euro in 2013 and an estimated 330 euro in 2015. Comparing aggregate savings in 2015 with total household consumption, the gain amounts to 0.5% of disposable income.
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On the occasion of International Youth Day, celebrated on 12 August, STATEC looks at the situation of young people (up to 24 years) in the Grand Duchy and published some figures on their daily lives. On 1 January 2016, 163 454 residents are less than 25 years old; their part in the total population is continuously decreasing. Some elements on their situation: the 10 – 24-year-olds sleep on average 9 hours and 33 minutes and read on average 10 minutes a day. 29% of young residents (16 to 24) were in the labour market in 2015, slightly less than European average (33%). 11.1% of women who married in 2015 were under 25 years and 10.1% of the babies born in 2015 had as young moms.
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This publication from LISER ttempts to determine the contribution of circumstances, efforts (and lifestyle) and demographic variables (age and gender) to inequality in health in Luxembourg.
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The inflation forecast for 2016 remains unchanged at 0.2%. Depending on the evolution of Brent prices in the months to come, the next automatic adaptation of wages and salaries would rise between the last quarter of 2016 and the second quarter of 2017.
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In July 2016, the consumer price index, calculated by STATEC, is falling by 1.1% compared to previous month. Like every year, this drop is explained by price reductions offered during the summer sales. In addition, oil prices are on downward trend. By neutralizing the variations due to summer sales and excluding oil products, prices of other goods and services rose by 0.1%. The annual inflation rate remains like in previous months, with -0.03%, around 0%.
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The BCL’s consumer confidence indicator has decreased in July 2016. All the components of the indicator have evolved unfavourably this month, with the exception of households’ expectations about the economic situation in Luxembourg which have slightly improved.
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The BCL informs that the aggregated balance sheet of credit institutions reached 774 933 million euros on 30 June 2016, compared to 774 191 million euros on 31 May 2016. Luxembourg’s credit institutions employed 26 228 people at 30 June 2016.
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