Luxembourg's GDP fell in second quarter but rose during the year overall

The Statec agency published a study on GPD recently. It confirmed that the country’s real GDP in the second quarter of 2022 was 0.5% lower than in the first. However, compared to 2021 overall, the indicator increased by 1.2%.

In general, the dynamics are not really inspiring. Research results tend to be reviewed and revised regularly. This has already happened with the indicators for 2018-2021. This way, researchers are able to provide more accurate data based on the changing situation.

It is worth noting that value added increased in most economic sectors, except construction and heavy industry. They’ve lost 8.6% and 8.7% respectively.