Resists

Statec's latest "Konjunktur-Flash" says Luxembourg's economic activity "resists despite a very turbulent context." Positive signals come from household consumption, trade turnover, and new car registrations. Industrial and construction activity, after difficult years, are also trending upward[1].

GDP growth for Q2 2026 is not yet published but could turn positive again. The previous two quarters both came in at 0.0%.

On inflation, Statec warns of price pressure from two sources: the closure of the Hormus road and this summer's drought. Both could push food prices up. The last index tranche was triggered in June, and the next is still forecast for autumn 2027.

So the economy is not booming, but it is not collapsing either. It is holding. In a year marked by geopolitical tension, trade disruption, and climate extremes, holding is not nothing.