A 6% rise was recorded for July, August and September 2018. This equals a yearly progression of 3,1%.
The growth comes as a relief after the second quarter had witnessed a period of stagnation. Luxembourg's information, communication, health and commerce sectors are mainly responsible for the renewed growth. A slight decline was witnessed in the transport and HORESCA (hotels, restaurants, and bars) sector.
Despite the potential impact of international tensions on Europe's exchange markets, the finance sector has also witnessed a slight 0,9% growth after taking a 2,5% hit in the second quarter.
Consumer spending contributed significantly to growth in the third quarter. The public sector is expanding by 3,4% and household spending is up 4,7%. This is partly due to rent prices, insurance and new vehicles purchased during the course of the third quarter.
However, these figures must be interpreted with some caution as the data used by Statec are still largely based on estimates.
Regarding investments, the months of July, August and September show a decline of nearly 3%.
