The German economy expanded 1.7% on quarter in Q3 2021, slightly below 1.8% in the preliminary estimate and an upwardly revised 2% in the previous period, final figures showed. Household expenditure jumped 6.2% and was the only driver of growth while government reduced its consumption by 2.2% and gross fixed capital formation fell for a second quarter, mainly machinery and equipment (-3.7%) and construction (-2.3%). Exports of goods and services were down 1% and imports decreased 0.6% as more services were imported than in the previous quarter. Year-on-year, the economy advanced 2.5%, matching preliminary estimates. source: Federal Statistical Office

GDP Growth Rate in Germany averaged 0.48 percent from 1970 until 2021, reaching an all time high of 9 percent in the third quarter of 2020 and a record low of -10 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 November of 2021.

GDP Growth Rate in Germany is expected to be 0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. 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


Calendar GMT Actual Previous Consensus TEForecast
2021-10-29 08:00 AM QoQ Flash Q3 1.8% 1.9% 2.2% 2.5%
2021-11-25 07:00 AM QoQ Final Q3 1.7% 2% 1.8% 1.8%


Related Last Previous Unit Reference
GDP Growth Rate 1.70 2.00 percent Sep/21
GDP Annual Growth Rate 2.50 10.00 percent Sep/21
GDP Constant Prices 803.51 789.44 EUR Billion Sep/21
Gross National Product 938.59 896.02 EUR Billion Sep/21
Gross Fixed Capital Formation 166.50 168.59 EUR Billion Sep/21
GDP From Services 136.23 125.79 EUR Billion Sep/21
GDP From Public Administration 158.10 147.09 EUR Billion Sep/21
GDP From Manufacturing 161.21 162.80 EUR Billion Sep/21
GDP From Construction 50.28 46.55 EUR Billion Sep/21
GDP From Agriculture 7.29 6.67 EUR Billion Sep/21

News Stream
Germany GDP Growth Revised Slightly Lower to 1.7%
The German economy expanded 1.7% on quarter in Q3 2021, slightly below 1.8% in the preliminary estimate and an upwardly revised 2% in the previous period, final figures showed. Household expenditure jumped 6.2% and was the only driver of growth while government reduced its consumption by 2.2% and gross fixed capital formation fell for a second quarter, mainly machinery and equipment (-3.7%) and construction (-2.3%). Exports of goods and services were down 1% and imports decreased 0.6% as more services were imported than in the previous quarter. Year-on-year, the economy advanced 2.5%, matching preliminary estimates.
2021-11-25
German Economy Grows Less than Forecast in Q3
Germany's economy grew by 1.8 percent on quarter in July-September 2021, following an upwardly revised 1.9 percent expansion in the previous three-month period and missing market expectations of 2.2 percent, a preliminary estimate showed. Growth was mainly attributable to higher household final consumption expenditure, while supply chain disruptions and shortages of raw materials, as well as a surge in energy prices, weighed on the recovery. On a yearly basis, the economy grew by 2.5 percent, slowing from a 9.8 percent expansion in the previous period. The German government in October has lowered its forecast for GDP growth to 2.6 percent this year, from 3.5 percent previously estimated.
2021-10-29
Germany GDP Growth Revised Up in Q2
The German economy expanded 1.6% on quarter in the second quarter of 2021, slightly more than 1.5% in the preliminary estimate, and rebounding from a downwardly revised 2% contraction in the first 3 months of the year, supported by private consumption and state spending after COVID-19 restrictions were eased. Private consumption surged 3.2% (-5.2% in Q1) contributing 1.6 percentage points to overall growth, public spending grew 1.8% (-0.7% in Q1) contributing 0.4% and gross fixed capital formation were up 0.5% (-0.7% in Q1). However, both exports (0.5% vs 1.4%) and imports (2.1% vs 4.2%) rose at a slower pace. Year-on-year, the economy advanced 9.4%. The German GDP is expected to grow 3.7% this year, although it may miss full-year growth targets due to the coronavirus delta variant, according to the Bundesbank.
2021-08-24

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.