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Luxembourg's economy grows by 3.1% in third quarter
Economics

Luxembourg's economy grows by 3.1% in third quarter

by BB 22.12.2018 From our online archive
National statistics office revises upwards its growth estimates for first two quarters
The construction sector declined by 1.5% during the three month period until end of September Photo: Guy Wolff
The construction sector declined by 1.5% during the three month period until end of September Photo: Guy Wolff

Luxembourg's economy grew by 3.1% in the third quarter compared to the same period last year, according to the national statistics bureau.

The country's gross domestic product (GDP) was up 0.6% compared to the previous quarter, according to figures released by Statec on Friday.

Statec also revised its growth estimates for the first two quarters of 2018.

GDP growth was revised upwards in the second quarter to 3.3% year-on-year from a previous estimate of 3.1%, while in the first quarter the rate of growth was revised to 3.4% from 3.2%.

Growth in the third quarter was led by the information and communication sector, which posted a 6.6% growth rate compared with the second quarter.

However, the construction sector declined by 1.5% during the three month period until end of September.

The finance and insurance sector grew by 0.9% over the same period.


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