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Luxembourg records drop in industrial production
Euro zone

Luxembourg records drop in industrial production

by BB 14.02.2018 From our online archive
Industrial output drops by 2.3% year on year, marking second-largest fall in EU
Luxembourg posts positive month-on-month industrial growth (Shutterstock)

Luxembourg's industrial output dropped by 2.3% in December compared with the previous year, according to the latest figures from Eurostat.

The Grand Duchy recorded the second-largest year-on-year drop in the European Union (EU) after Croatia.

Luxembourg, however, posted a positive increase of 2.5% month on month in December.

The annual fall in industrial production in Luxembourg comes at a time when output is picking up across the euro area.

Eurostat, the statistical office of the EU, found industrial production increased by 5.2% in the euro area in December compared with the same month in 2016.

Month-on-month output increased by 0.4% in the euro area.

Eurostat also confirmed the eurozone economy grew by 0.6% in the fourth quarter of 2017 compared with the previous quarter.

GDP grew by 2.7% compared with the fourth quarter of 2016.