According to Eurostat’s flash estimate published on Wednesday, growth was more marked when compared to the same periods in 2016. The report showed +2.7% growth in GDP in the eurozone and +2.6% in the EU28 compared to the last quarter of 2016.

The improvement was almost identical to that recorded by the US, which reported a 0.6% increase compared with the previous quarter and a 2.5% increase compared to the previous year.

Figures were not available for Luxembourg’s GDP during the last quarter of 2017.

Growth improved progressively on a quarterly basis in 2017 when Luxembourg recorded -0.5%, 0.7% and 1.7% improvements from the first to the third quarters.

Luxembourg’s third quarter growth placed it in the top three of the EU, behind Romania (2.4%) and Malta (1.9%).

Despite a seemingly sluggish start in the first quarter, Luxembourg’s GDP increased 3.8% compared to the first quarter of 2016. The second quarter was weaker with 1.9% growth, rising to 3.2% in the third quarter from 2016-2017.