Luxembourg Business Compass 2014

Twelve-month outlook for the Luxembourg economy


On a scale of +5 to -5, how do you expect the Luxembourg economy to develop in view of the next 12 months?

When the first survey wave was conducted in April 2009, the Luxembourg economy was in the grip of the global crisis sparked by the collapse of the U.S. real estate market in 2007. Subsequent surveys offered signs that the Luxembourg economy was on a steady path towards recovery. Since late 2011, however, against the backdrop of the escalating European currency and debt crisis, economic expectations have again become more clouded.

This year in 2014, Luxembourg business leaders are increasingly optimistic about the economic outlook in view of the next 12 months (+0.8%). They anticipate noticeable economic growth over the course of the year, even if their expectations are still considerably more cautious than they were in late 2010/early 2011.

In addition to the core questions on the economic trend and Luxembourg's competitiveness, this survey wave focuses on the perception business leaders have on the new government following the election held in 2013 and subsequently feeling about its political action, as well as areas related to employment in Luxembourg.


KPMG conducts a biannual study with the Luxemburger Wort, the Luxembourg Business Compass. The study aims to ascertain business leaders’ expectations regarding future economic trends. The survey also zooms in on entrepreneurs plans for their own companies' future development. These core elements are supplemented by varying questions pertaining to topical issues in business or politics. The study is analyzed independently by the Institut für Demoskopie Allensbach.

Full report Spring 2014

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