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Luxembourg economy grows 3.2% in third quarter
GDP

Luxembourg economy grows 3.2% in third quarter

by AH 21.12.2017 From our online archive
Economy boosted by a 20% annual increase in the field of information and communications.
Luxembourg's economic growth outpaces the eurozone's. (Shutterstock)

Luxembourg's economy expanded 3.2% in the third quarter compared with the same period last year, driven by the information and communications sectors, Statec, the country's statistics office, said on Thursday.

That outpaced the 2.6% growth in the 19-nation eurozone in the same period that was announced by Eurostat on December 7.

Quarter-on-quarter, Luxembourg's growth was 1.7%, according to the preliminary data from Statec.

The economy was boosted by a 20% annual increase in the field of information and communications.

At the other end, the grouping of agriculture, forestry and fishing contracted 1.6%, Statec said.

Growth figures for other quarters were revised.

Expansion in the last quarter of 2016 was 4.2% on an annual basis. That compares with a previous figure of 4.1%.

Year-on-year numbers for other periods were revised lower.

The first quarter was changed to 3.8% from 4% and the second quarter was revised to 1.9% from 2.2%.