How does the labour market in the Greater Region evolve? How does the industry develop? What is the level of inflation? These issues are addressed in the new bilingual publication 'Economic situation in the Greater Region' (Conjoncture dans la Grande Région), which the working group of the statistical offices of the Greater Region (Saarland, Lorraine, Luxembourg, Rhineland-Palatinate and Wallonia) has published. It describes the recent economic development in our border region, which is an important economic area in the heart of Europe with 65,400 km² and 11.5 million inhabitants, with a variety of short term economic indicators.
Luxembourg, creator of jobs
For Luxembourg, the report notes that during the 1st quarter of 2016, payroll employment increased by 0.8%, thus at the same pace as during the previous quarter. Unemployment keeps its downtrend during the beginning of 2016 and reached 6.5% of the labour force in May 2016.
Real GDP recorded growth of 0.7% in Q1 2016 (+ 4.4% yoy). Business suffered a slowdown stemming in particular from a weakening momentum in the financial sector.
Economic surveys, available up to May 2016, show divergent trends: rather favourable on the industry, construction and consumers side, less buoyant on the services (financial and non-financial) side.
Faced with other regions of the Greater Region (Saarland, Lorraine, Rhineland-Palatinate and Wallonia), Luxembourg shows the largest growth, thereby consolidating its position as economic engine of this region. Employment figures mirror this position: with a 3% increase in payroll employment between Q1 2015 and Q1 2016, Luxembourg is the largest job creator in the Greater Region (Rhineland-Palatinate: + 1.6%; Saarland: + 0.8%; Lorraine: - 0.1%; Wallonia N/A) and is in second position for unemployment trends during the same period (-5.1%), behind Wallonia (-6.7%), but ahead of Rhineland-Palatinate (-2.0%), Lorraine (+ 1.3%) and Saarland (+ 2.2%).
The new Statistics Portal of the Greater Region is online
The portal, which includes the publications of the 5 statistical institutes of the Greater Region (Statistical Office of the Saarland, INSEE-Lorraine, STATEC, Statistical Office of the Rhineland-Palatinate and IWEPS-Wallonie) has been completely revised in order to allow improved user interactivity.
Users can now build data tables according to their preferences by selecting years, regions and variables. The definitions associated with tables can be accessed directly by clicking on the tab in question. It is also possible to share the various pages on social networks or subscribe to the RSS feed. The new portal also offers Newsletter which informs about events in the field of official statistics from the Greater Region and its components, new findings or important updates.
The economic situation newsletter is published quarterly on the internet at: www.grande-region.lu.
(Article written by the editorial team of the portal www.luxembourg.lu/ Source: publication of the statistical offices of the Greater Region)