Sales: Retail Trade: Car Registration: Passenger Cars for Luxembourg
LUXSLRTCR03MLM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,638.00
Year-over-Year Change
5.91%
Date Range
1/1/1962 - 11/1/2023
Summary
The 'Sales: Retail Trade: Car Registration: Passenger Cars for Luxembourg' series measures new passenger car registrations in Luxembourg, which is a key indicator of consumer demand and economic activity.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This monthly indicator tracks the number of new passenger cars registered in Luxembourg, providing insights into consumer spending and confidence. It is used by economists and policymakers to assess the state of the domestic automotive market and overall economic conditions.
Methodology
The data is collected by the Luxembourg Vehicle Registration Authority and reported by the European Automobile Manufacturers' Association.
Historical Context
Trends in new car registrations are closely monitored for their implications on consumer behavior, retail sales, and broader economic performance.
Key Facts
- Luxembourg had over 400,000 passenger cars registered as of 2022.
- New car registrations in Luxembourg increased by 8.5% in 2021 compared to 2020.
- The automotive sector accounts for approximately 3% of Luxembourg's GDP.
FAQs
Q: What does this economic trend measure?
A: This series measures the number of new passenger cars registered in Luxembourg on a monthly basis, providing an indicator of consumer demand and economic activity in the automotive sector.
Q: Why is this trend relevant for users or analysts?
A: Trends in new car registrations are closely watched by economists and policymakers as they offer insights into consumer spending, confidence, and the broader state of the domestic economy.
Q: How is this data collected or calculated?
A: The data is collected by the Luxembourg Vehicle Registration Authority and reported by the European Automobile Manufacturers' Association.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this indicator to assess consumer demand, gauge the health of the automotive industry, and make informed decisions about economic policies and interventions.
Q: Are there update delays or limitations?
A: The data is reported on a monthly basis, with a typical lag of 1-2 months between the reference period and the release of the latest figures.
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Citation
U.S. Federal Reserve, Sales: Retail Trade: Car Registration: Passenger Cars for Luxembourg (LUXSLRTCR03MLM), retrieved from FRED.