Economy

Politics & Institutions

Three observers weigh in on the AAA rating: Julien Pénasse (University of Luxembourg), Philippe Ledent (ING) and Christopher Dembik (Pictet AM). Photos: Sophie Margue/Romain Gamba/Maison Moderne and Quentin Jourdan

Experts put Luxembourg’s AAA rating under the microscope

With the economic horizon darkening, there is less room for manoeuvre in the budget, meaning that the future government will have to resort to borrowing. Could this jeopardise the triple-A rating? Three experts weigh in.

Guillaume Meyer • 20.10.2023

While 76% of participants expressed a desire to own homes, 42% of them faced obstacles in realising this goal due to insufficient funds for down payments, as reported by over 500 respondents in a CBRE tenant survey. Photo: Matic Zorman / Maison Moderne

Average monthly apartment rent reaches €1,745: CBRE survey

Kangkan Halder • 19.10.2023

Luxembourg statistics agency Statec reported 710 bankruptcies in the first nine months of 2023, according to figures released on 18 October 2023. The insurer Allianz has predicted 1,180 bankruptcies in the grand duchy by the end of the year. Photo: Shutterstock

Bankruptcies set to rise until 2024

Mathilde Obert • 19.10.2023

The average standard of living for residents of Luxembourg increased by 7.7% in 2022, equating to €4,032 per person per month, according to a press release from Statec on Monday. Photo: Romain Gamba / Maison Moderne

Standard of living up 7.7% in 2022, outpaces inflation

Kangkan Halder • 17.10.2023

Nearly a third (29%) of European businesses view the climate transition as an opportunity, while a similar share (31%) sees it as a potential threat to their operations, reported the European Investment Bank in its annual investment survey, the EIBIS. Library picture: Matic Zorman

EU firms’ investment rebounds to pre-pandemic levels, but skill shortages loom

Kangkan Halder • 16.10.2023

For the first time in two decades, Luxembourg’s housing borrowing rates have surpassed the euro area average. Archive photo: Matic Zorman / Maison Moderne

Mortgage rates in Luxembourg surpass neighbours, euro area average

Kangkan Halder • 10.10.2023

UEL director Jean-Paul Olinger says that Luxembourg’s ability to attract, train and mobilise talent should be a priority for the next government. Photo: Romain Gamba

Sustainable talent

Duncan Roberts • 06.10.2023

The latest numbers pertaining to the housing crisis are in. Photo: Romain Gamba/Maison Moderne/Archives

House prices have fallen 6.4% in one year

Mathilde Obert • 26.09.2023

Luxembourg’s rates of in-work poverty risk, particularly among women, spotlight a growing issue in the EU, where employment is increasingly failing to serve as a safeguard against financial hardship. Photo: Romain Gamba / Maison Moderne

13.4% of Luxembourg’s female employees at risk of poverty, highest in EU

Kangkan Halder • 26.09.2023

Luxembourg’s GDP has kept fluctuating between growth and decline over the past six quarters, registering a slight contraction of -0.1% in the most recent quarter. Photo: Romain Gamba / Maison Moderne

Luxembourg GDP contracts 0.1% in Q2 2023

Kangkan Halder • 14.09.2023

“Multiple headwinds facing our economies this year have led to a weaker growth momentum than we projected in the spring,” Paolo Gentiloni, the European commissioner for economy, said this week. Photo: Romain Gamba / Maison Moderne

EU’s economic outlook merges optimism with caution

Kangkan Halder • 13.09.2023

August 2023 data from Luxembourg’s central bank shows a significant improvement in household expectations for their financial situation over the next 12 months. Photo: Romain Gamba / Mainson Moderne

Consumer optimism rises in August

Kangkan Halder • 07.09.2023

Luxembourg employees’ paycheques will increased by 2.5% starting in September, the third round of indexation to be triggered in 2023. This additional cost will initially be covered by employers, before they benefit from a reduction in their social insurance contributions at the beginning of next year. Photo: Maison Moderne

Luxembourg state will soften third indexation blow, but in 2024

Catherine Kurzawa • 01.09.2023

“Should we judge that the policy stance is inconsistent with a timely return of inflation to our 2% target, a further increase in interest rates would be warranted,” remarked European Central Bank board member Isabel Schnabel on 31 August 2023. Archive photo: European Central Bank

Further increase in interest rates “warranted”: ECB’s Isabel Schnabel

Kangkan Halder • 31.08.2023

Sustained inflation has triggered the third tranche of indexation this year. Photo: Sara Kurfeß/Unsplash

Third indexation of 2023 set for September: Statec

Aaron Grunwald • 30.08.2023

Currently, 10-year maturity Eurozone government bonds are trading at lower prices compared to their 1-year counterparts, signaling investor concern over short-term economic growth prospects. Photo: Shutterstock

Inverted yield curves raising recession worries

Kangkan Halder • 28.08.2023