Estimated Real GDP Increases by 3.1% in Third Quarter of 2018

In the third quarter of 2018, real GDP growth in Luxembourg was 3.1% higher than the third quarter of 2017, according to Statec's first estimates.

In addition to an increase of 3.1% compared to last year, the estimated real GDP for Q3 of 2018 is 0.6% higher than the previous quarter.

In this regard, the added value of financial and insurance activities increased by 0.9% compared with the previous quarter. Meanwhile, the evolution of the other branches, in order of importance in GDP, is as follows: "Trade; transport; accommodation and catering" rose by 0.8%; "Business services and leasing" increased by 0.5%; "Real estate activities" rose by 1.2%; "Information and communication" increased by 6.6%, "Industry, including energy and water supply" rose by +1.7%; "Construction" decreased by 1.5%; "Public administration, education and health" rose by 1.0%.

Compared with the second quarter of 2018, final consumption expenditure of households and non-profit institutions serving households increased by 0.7%, while that of general government rose by 1.5%. The decline in gross fixed capital formation was -2.8% whilst exports rose 1.6% and imports 1.5%.