National Accounts: GDP by Expenditure: Constant Prices: Gross Domestic Product: Total for Luxembourg
Growth rate same period previous year, Annual
LUXGDPRAPSMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.03
Year-over-Year Change
-37.46%
Date Range
1/1/1996 - 1/1/2024
Summary
The Growth rate same period previous year, Annual metric tracks the year-over-year percentage change in Luxembourg's real gross domestic product (GDP). This key economic indicator provides insights into the pace of economic growth and expansion.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This annual growth rate measure compares Luxembourg's GDP in the current year to the same period in the previous year, adjusting for inflation. It is a widely-used indicator of overall economic performance and helps policymakers and analysts assess the broader health and trajectory of the Luxembourg economy.
Methodology
The data is calculated by the Luxembourg Institute of Statistics based on national accounts data.
Historical Context
The GDP growth rate is a critical input for policymakers at the Central Bank of Luxembourg and European institutions when evaluating economic conditions and potential interventions.
Key Facts
- Luxembourg's GDP grew 3.1% in 2021 compared to 2020.
- The economy contracted 1.8% in 2020 due to the COVID-19 pandemic.
- GDP growth averaged 2.8% annually from 2015-2019.
FAQs
Q: What does this economic trend measure?
A: The Growth rate same period previous year, Annual metric tracks the year-over-year percentage change in Luxembourg's real gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This key economic indicator provides insights into the pace of economic growth and expansion in Luxembourg, which is crucial for policymakers and analysts assessing the broader health and trajectory of the economy.
Q: How is this data collected or calculated?
A: The data is calculated by the Luxembourg Institute of Statistics based on national accounts data.
Q: How is this trend used in economic policy?
A: The GDP growth rate is a critical input for policymakers at the Central Bank of Luxembourg and European institutions when evaluating economic conditions and potential interventions.
Q: Are there update delays or limitations?
A: The annual GDP growth data is typically released with a lag of several months, as it requires compiling comprehensive national accounts data.
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Citation
U.S. Federal Reserve, Growth rate same period previous year, Annual (LUXGDPRAPSMEI), retrieved from FRED.