Credit: Statec

In the fourth quarter of 2018, real GDP growth in Luxembourg was 1.7% higher than the fourth quarter of 2017, according to Statec's first estimates.

In addition to an increase of 1.7% compared to last year, the estimated real GDP for Q4 of 2018 was 0.3% higher than the previous quarter. The annual changes in real GDP for 2018 have thus been revised as follows: +2.8% instead of +3.1% for Q3, +3.0% instead of +3.3% for Q2 and +3.0% instead of +3.4% for Q1.

In this regard, the added value of financial and insurance activities decreased by -2.4% compared to the previous quarter. Meanwhile, the evolution of the other branches, in order of importance in GDP, is as follows: "Trade; transport; accommodation and food services" rose by 1.0%; "Business and rental services" increased by 0.7%; "Real estate activities" rose by 0.9%; "Information and communication" went up by 1.4%; "Industry, including energy and water supply" rose by 0.2%; "Construction" rose by 2.0%; "Public administration, education and health" increased by 1.4%. 

Compared with the third quarter of 2018, final consumption expenditure of households and non-profit institutions serving households increased by 0.3%, while that of general government by 1.7%. The increase in gross fixed capital formation was 10.1% while exports rose 1.2% and imports 1.8%.