Conjoncture Flash 06/23: Contrasting trends in transport services
Value added in the transport and storage sector held up surprisingly well during the health crisis, thanks in particular to good results in air freight. However, it has been on a downward trend since mid-2022. Nevertheless, employment in the sector continues to trend favourably, supported in particular by the increase in the number of people employed in road passenger transport.
- Employment remains dynamic in early 2023
- GDP rebounds in Q1
- Monetary policies diverge
- Rising interest rates further boost bank earnings
- Construction employment slows sharply
- Employment in industry holds up
- Services inflation remain relatively low in Luxembourg
- Electricity: increased production, fewer imports
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