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By Andrei RADULESCU, Ph.D., Senior International Macroeconomist
The macroeconomic climate has been deteriorating in recent quarters in Luxembourg, the country with the highest GDP/capita in the world, estimated at around € 130,000 in 2025, according to the International Monetary Fund (IMF). For instance, the economic confidence indicator (estimated by the European Commission) declined in October 2025 to the lowest level since August 2024, as represented in the following chart.
Economic confidence indicator in Luxembourg (points)
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One can notice the deterioration of confidence in the industry, towards the minimum since July 2023, an evolution determined by the high level of the...
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