Positive forecast for the Luxembourg economy
The Ernst & Young Eurozone Forecast 2010 contains good news for firms doing business in the Grand Duchy. Covering the period 2009-2014, the Forecast reports that private consumption in Luxembourg hit the bottom in 2009 and is recovering to reach a steady rate of 3% by 2012-2014. At the same time inflation will remain low, at 2%, and unemployment will fall. The Forecast predicts that the Government will balance its budget by 2012.
The Eurozone Forecast is a quarterly publication produced by Ernst & Young in partnership with Oxford Economics that tracks macroeconomic data across the Eurozone as a whole, as well as for individual member countries, highlighting trends and providing commentary around the potential impact on businesses.
Based on the European Central Bank’s forecasting model, the report is designed to help companies in their planning and decision-making processes.
For further commentary see Ernst & Young press release in below.
The Eurozone report (including the Luxembourg report) is available for download on: www.ey.com/eef.