The Chamber of Skilled Trades and Crafts has warned that the economic outlook for Luxembourg's craft sector in 2025 remains concerning, citing weak demand and falling employment as major concerns.
The economic outlook for Luxembourg's craft sector in 2025 remains concerning, according to a press release issued by the Chamber of Skilled Trades and Crafts on Wednesday. The chamber highlighted ongoing weak demand and a decline in employment, with significant disparities observed across different sectors.
To tackle these challenges, the Chamber of Skilled Trades and Crafts is renewing its call for a counter-cyclical approach to public tendering and urging financial institutions to adjust banking conditions to help stabilise the industry.
In 2024, the number of companies that went bankrupt or ceased trading voluntarily reached an all-time high.
The construction industry, in particular, continues to face a bleak outlook, with employment levels having declined steadily since the end of 2022. Government initiatives aimed at boosting off-plan (VEFA) sales are only just starting to show some positive results.
