In November 2023, Luxembourg’s monthly industrial production volume was reported at 91.5, in comparison to the 2015 production levels, used as the reference base of 100. Notably, this placed Luxembourg at the bottom among EU countries in terms of production levels for three months straight, data from the European statistics agency Eurostat has shown.

Germany and the Netherlands followed closely, with November production levels at 97.8 and 98.0, respectively, and consequently, were the second and third poorest performers in the EU.

Notably, both Luxembourg and Germany had maintained their industrial production volumes below the 2015 benchmark for eight consecutive months, starting from April 2023. The industrial activities encompass sectors such as mining and quarrying, manufacturing, as well as the supply of electricity, gas, steam and air conditioning.

In terms of annual change, Luxembourg experienced a calendar-adjusted production decline of 4.5% in November, which was a slight increase compared to the 3.8% decline observed in October. However, Luxembourg was not an outlier in this annual decline in production levels; in fact, November witnessed declines in 18 member states, ultimately resulting in an EU average decline of 5.8%.

Looking at the main industrial groupings in November across the entire EU, capital goods experienced an 8.7% decline, durable consumer goods declined by 8.4%, intermediate goods decreased by 5.6% and non-durable consumer goods saw a 3.8% reduction. Conversely, there was a growth of 1.0% in energy production.