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In its monthly publication on the state of the Luxembourg economy, the economic the national institute for statistic and economic studies (Statec) reported that, although Luxembourg manufacturers were less confident about the first months of the year, worried in particular about short-term output prospects, they have since regained their optimism.

“In construction, business owners remained upbeat at the start of the 3rd quarter. Output in this sector rose more than 5% over one year, compared to 2% in the euro zone. At European level, this is one of the only sectors where economic surveys have not recorded a fall in confidence this year,” the report states,

Manufacturing and construction still account for about 20% of total employment in Luxembourg (and 13% of added value in the total economy).