Luxembourg GDP up 2.2% in second quarter

Luxembourg's real GDP increased by 2.2% in the second quarter of this year compared with the same period in 2016.

The latest estimation figures by Luxembourg's statistics office, Statec, also reveal it is up 0.6% from the first quarter of this year.

Compared with quarter one the final consumption expenditure of public administration increased by 0.7% and households and not-for-profit organisations by 0.1%. Export increased by 2.4% and import by 0.6%.

While the added value of financial activities and insurance increased by 3.4%, construction industry by 4.9% and information and communications by 4.7%, commercial, transport, accommodation and restauration industries were down 1.8%.

Figures for 2016 have also been revised, with the evolution of the third quarter of the year remaining unchanged at +5.2% while the last quarter was amended to +4.1% instead of +3.9%. The first quarter of 2016 was changed to +4.0% from 3.3%.

(Heledd Pritchard, heledd.pritchard@wort.lu, +352 49 93 459)