Confidence among manufacturing and construction companies in Luxembourg remained high over the summer of 2018, with industrial output in the first half of the year up almost 5% over one year, compared to just under 3% in the euro zone, reports Statec, the national institute for statistic and economic studies.
In its monthly publication on the state of the Luxembourg economy, Statec reported that, although Luxembourg manufacturers were less confident about the first months of the year, worried in particular about short-term output prospects, they have since regained their optimism.
“In construction, business owners remained upbeat at the start of the 3rd quarter. Output in this sector rose more than 5% over one year, compared to 2% in the euro zone. At European level, this is one of the only sectors where economic surveys have not recorded a fall in confidence this year,” the report states,
Manufacturing and construction still account for about 20% of total employment in Luxembourg (and 13% of added value in the total economy).