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In 2017, the added value of the financial sector dropped by 3.3%, weighing down the economic growth of the country. This performance is rather disappointing in relation to the confidence in the sector and in the markets, as well the result of the eurozone (-0.2%).
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The number of available resident jobseekers registered at the ADEM is 15 956 as of March 31, 2018. Over one year, this represents a decrease of 411 people, or 2.5 %. The rate of unemployed, adjusted for seasonal variations, was 5.7 %.
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During 2017, the population of the Grand Duchy has increased by 11,338 people so that as of January 1, 2018, 602,005 inhabitants reside in Luxembourg. This continuous increase in the population is mainly due to net immigration. 48% of the inhabitants of the country do not have Luxembourg nationality.
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The questions in this quarterly survey focus on trips made by residents during the last quarter. In 2016, more than one billion Euro were spent, which equals 770 Euro per resident and per trip.
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In March 2018, the consumer price index, calculated by STATEC, shows a monthly increase of 0.09%. Prices excluding oil products rose by 0.15%, while prices for oil products slowed down by almost one percent. The annual inflation rate increases at 1.1%.
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The BCL and STATEC inform that the current account showed a surplus of 2.8 billion euros in 2017, an increase of about 2% compared to 2016.
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Growth slowed to 2.3% in 2017
28-03-2018 | STATEC

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.
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The gross domestic product (GDP) in volume increased by +1.6% during the fourth quarter of 2017 compared to the same quarter in 2016, and by -0.1% compared to the previous quarter.
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Eco&Stat_HP

The model produces reliable forecasts in the short term, knowing that it is very difficult to predict the macroeconomic and financial variables in small, very open economies, says Massimiliano Marcellino. The analysis of the professor of econometrics at Bocconi University (Milan) also contains various concrete suggestions.
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The number of available resident jobseekers registered at the ADEM is 16 642 as of February 28, 2018. Over one year, this represents a decrease of 493 people, or 2.9 %. The rate of unemployed, adjusted for seasonal variations, was 5.7%.
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