A report from Luxembourg statistics portal STATEC published today has revealed a first GDP estimate for the second quarter of 2015 of 3.1% Year Over Year (YOY).
Whilst the estimated GDP has increased 3.1% from Q2 2014 to Q2 2015, this would indicate a 0.9% fall as compared to the first quarter of 2015.
The annual changes in real GDP for 2014 were revised as follows: 3.6% instead of 5.2% for the third quarter and 6.8% instead of 8.5% for the fourth quarter. The evolution of the first quarter of 2015 was stated at 5.3% rather than 4.9%, and the annual GDP change in volume in 2014 was revised fown 4.1% instead of 5.6% set in the latest version of accounts.
The added value of financial and insurance activities was reported as down 0.1% from the previous quarter. 'Trade, Transport, Accomodation and Food' were down 3.3%; 'Business and Rent' down 3.1%; 'Real Estate Activities' increased 1.0%; 'Information and Communication' rose 1.6%; 'Industry, Including Energy and Water Distribution' grew 0.7%; 'Construction' increased 2.0%; and 'Public Health and Education Administration' saw a rise of 1.0%.
Compared to the first quarter of 2015, the final consumption expenditure of households and non-profit institutions serving households increased by 1.4%, government expenses fell 0.6%. The decline in gross fixed capital formation was 12.4%. Exports fell 0.2% whilst imports decreased 1.1%.
Graph by STATEC
