According to the latest report by the National Institute of Statistics and Economic Studies (STATEC), the industrial sector in Luxembourg witnessed a notable decline of 4.7% during the first quarter, compared to the previous year.

This figure falls significantly below the performance of the wider Eurozone. The primary contributors to this downturn are the construction and textile sectors.

STATEC does not anticipate a significant improvement in Q2. However, certain sectors have witnessed a slight uptick in activity, notably the steel industry.