The German economy expanded 0.3 percent on quarter in the last three months of 2020, much better than initial estimates of a 0.1 percent growth, led by an 8.3 percent jump in gross capital formation, namely in construction and inventories. Net trade also contributed positively while consumer (-3.3 percent) and government spending (-0.5 percent) shrank due to the second coronavirus wave and another lockdown imposed from November. Year-on-year, the economy contracted 3.7 percent. Full 2020 drop was revised lower to -4.9 percent from a preliminary -5.3 percent. The German economy is seen expanding 3 percent in 2021, according to government estimates from late January 2021. source: Federal Statistical Office

GDP Growth Rate in Germany averaged 0.47 percent from 1970 until 2020, reaching an all time high of 8.50 percent in the third quarter of 2020 and a record low of -9.70 percent in the second quarter of 2020. This page provides the latest reported value for - Germany GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Germany GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on April of 2021.

GDP Growth Rate in Germany is expected to be -1.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Germany to stand at 0.90 in 12 months time. In the long-term, the Germany GDP Growth Rate is projected to trend around 0.50 percent in 2022 and 0.40 percent in 2023, according to our econometric models.

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Germany GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.30 8.50 8.50 -9.70 1970 - 2020 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-10-30 09:00 AM QoQ Flash Q3 8.2% -9.8% 7.3% 7.2%
2020-11-24 07:00 AM QoQ Final Q3 8.5% -9.8% 8.2% 8.2%
2021-01-29 09:00 AM QoQ Flash Q4 0.1% 8.5% 0% 0%
2021-02-24 07:00 AM QoQ Final Q4 0.3% 8.5% 0.1% 0.1%
2021-04-30 08:00 AM QoQ Flash Q1 0.3% -1.5% -1.4%
2021-05-25 06:00 AM QoQ Final Q1 0.3%
2021-07-30 06:00 AM QoQ Flash Q2 1.7%
2021-08-24 06:00 AM QoQ Final Q2
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
German GDP Growth Revised Higher
The German economy expanded 0.3 percent on quarter in the last three months of 2020, much better than initial estimates of a 0.1 percent growth, led by an 8.3 percent jump in gross capital formation, namely in construction and inventories. Net trade also contributed positively while consumer (-3.3 percent) and government spending (-0.5 percent) shrank due to the second coronavirus wave and another lockdown imposed from November. Year-on-year, the economy contracted 3.7 percent. Full 2020 drop was revised lower to -4.9 percent from a preliminary -5.3 percent. The German economy is seen expanding 3 percent in 2021, according to government estimates from late January 2021.
2021-02-24
Germany GDP Unexpectedly Grows 0.1% in Q4
The German economy expanded 0.1 percent on quarter in the last three months of 2020, beating market forecasts of a flat reading, and despite a coronavirus national lockdown imposed from mid-December. Fresh restrictions affected household consumption in particular, while exports of goods and gross fixed capital formation in construction supported the economy, flash estimates showed. The economy contracted 5 percent in 2020 and is expected to shrink in Q1 2021 as the lockdown was extended until mid-February. The GDP is seen growing 3% in 2021 according to government forecasts, below 4.4% earlier estimated.
2021-01-29
German Q3 GDP Growth Revised Higher
Germany's gross domestic product grew by a record 8.5 percent in the three months to September 2020, compared to a preliminary estimate of an 8.2 percent expansion and after the historic slump of 9.8 percent in the second quarter. The expansion was supported by a rebound in household consumption (10.8 percent vs -11.1 percent in Q2), and strong fixed investment in machinery and equipment (16 percent vs -15.1 percent). In addition, net exports added positively to the growth as exports increased by 18.1 percent (vs -20.5 percent in Q2) while imports rose at a softer 9.1 percent (vs -15.9 percent in Q2). Year-on-year, the economy shrank by 4 percent in the September quarter, following a record contraction of 11.3 percent in the second quarter.
2020-11-24
German Q3 Economic Growth Stronger than Forecast
Germany's gross domestic product grew by a record 8.2 percent in the three months to September 2020, trying to recover from the historic slump of 9.8 percent seen in the second quarter and beating market consensus of 7.3 percent, a preliminary estimate showed. The expansion was supported by a rebound in household consumption, strong fixed investment in machinery and equipment and a sharp increase in exports. Year-on-year, the economy shrank by 4.3 percent in the third quarter, easing from a record contraction of 11.3 percent in the previous period. The economy was also 4.2 percent smaller when compared with Q4 2019, the quarter before the coronavirus pandemic hit. Meanwhile, Germany's government has revised upwards its 2020 GDP forecast. It now expects the economy to shrink by 5.5 percent, compared to an initial estimate of 5.8 percent decline, before rebounding by 4.4 percent in 2021.
2020-10-30

Germany GDP Growth Rate
Germany is the fifth largest economy in the world and the largest within the Euro Area. Germany is the second largest exporter in the world and exports account for more than one-third of national output. As such, the export of high added value products has been the main driver of growth in recent years. Composition of the GDP on the expenditure side: household consumption (55 percent), gross capital formation (20 percent, of which 10 percent in construction, 6 percent in machinery and equipment and 4 percent in other products) and government expenditure (19 percent). Exports of goods and services account for 46 percent of GDP while imports for 39 percent, adding 7 percent to total GDP.