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The GDP in volume increased by +3.3% during the first quarter of 2017 compared to the same quarter in 2016, and by +0.1% compared to the previous quarter.
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Housing: The rise in prices accelerated in recent years
21-06-2017 | STATEC, Observatoire de l'Habitat

In the 4th quarter of 2016, the House Price Index increased by 7.7% over a year. In 2016, the average price per square meter of existing apartments lies at 4 795€/m2, whereas the price of those in construction attains 6 051€/m2. The average price of a one-family house reaches 623 315€.
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The number of foreigners in Luxembourg continuous to increase. It reaches 47% of the population. A study by the University of Luxembourg describes and maps the place of residence of the main nationalities and highlights the differences. Another reflection: is the localization of the inhabitants related to the accessibility to jobs?
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In May 2017, the national consumer price index showed a monthly increase of 0.1%. Prices excluding oil products rose by 0.3%, while prices for oil products declined by 3.6%. The annual inflation rate rose from 1.9% to 1.7%.
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Over the last months, national and international business activity gained momentum. Benefiting from this environment, the Luxembourgish economy is expected to growth by up to 5 percent in 2017 and 2018. This expansion will profit from a well balanced growth, consisting of interior and exterior demand as well as financial and non-financial growth.
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Labour market on the right track
23-05-2017 | STATEC

Domestic paid employment picked up in late 2016, up 3.3% over one year in the 4th quarter. Unemployment benefited from this momentum and continued to fall, dropping to 6.0% of the working population in April 2017, up from 6.2% at the turn of the year.
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This is a declin of 0.5 percent comparing to April 2016. The number of resident job seekers decreased by 1 000 people (-5,9% over 12 months). The decline is widespread and gives advantage to most vulnerable job seekers.
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The population of the Grand Duchy reaches 590 667 persons on 1st January 2017. As in the past, the increase in population is mainly due to the net migration, although it decreases from 2015 (-15.3%).
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After only 0.3% in 2016, the rise in inflation cannot only be attributed to the increase in oil prices, but stems also from both the observed and the projected hike in underlying inflation. Driven by favourable economic fundamentals, underlying inflation is indeed expected to rise to 1.4% in 2017 and 1.8% in 2018.
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