Luxembourg economy grew by 2.6% last year

The country’s GDP growth rose by 1.7% year-on-year in the fourth quarter of 2018

Luxembourg’s economy grew by 2.6% in 2018, according to a first estimate from the country’s national statistics office.

Statec figures also showed the country’s GDP growth rose by 1.7% year-on-year in the fourth quarter of last year.

The bureau confirmed revised figures for the other quarters of 2018, with a downward revision from 3.1% to 2.8% in the third quarter.

The second quarter of last year was also revised downwards, from 3.3% to 3% and from 3.4% to 3% in the first quarter.

Growth in the fourth quarter was dominated by the construction sector, followed by information and communication.

The added value of financial and insurance activities decreased by 2.4% compared with the third quarter of last year.