Germany's gross domestic product shrank by 0.2 percent on quarter in the final three months of 2022, following an upwardly revised 0.5 percent expansion in the previous period and defying market expectations of stagnation, a preliminary estimate showed. The contraction in Europe's largest economy was mainly led by a decline in household consumption, amid rising interest rates and stubbornly high inflation. On a yearly basis, the economic growth slowed to 1.1 percent in the fourth quarter, the weakest since a 2.1 percent contraction recorded in the first quarter of 2021. source: Federal Statistical Office

GDP Growth Rate in Germany averaged 0.48 percent from 1970 until 2022, reaching an all time high of 9.00 percent in the third quarter of 2020 and a record low of -9.50 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 February of 2023.

GDP Growth Rate in Germany is expected to be -0.10 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 2024 and 0.40 percent in 2025, according to our econometric models.

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Germany GDP Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-11-25 07:00 AM QoQ Final Q3 0.4% 0.1% 0.3% 0.3%
2023-01-30 09:00 AM QoQ Flash Q4 -0.2% 0.5% 0% 0.0%
2023-02-24 07:00 AM QoQ Final Q4 0.5% -0.2% -0.2%


Related Last Previous Unit Reference
GDP Growth Rate -0.20 0.50 percent Dec 2022
GDP Annual Growth Rate 1.10 1.40 percent Dec 2022
GDP Constant Prices 816.22 812.96 EUR Billion Sep 2022
Gross National Product 1002.78 985.98 EUR Billion Sep 2022
Gross Fixed Capital Formation 167.60 167.20 EUR Billion Sep 2022
Full Year GDP Growth 1.80 2.60 percent Dec 2022
GDP from Services 155.81 147.75 EUR Billion Sep 2022
GDP from Public Administration 162.74 153.46 EUR Billion Sep 2022
GDP from Manufacturing 175.97 180.43 EUR Billion Sep 2022
GDP from Construction 54.58 51.85 EUR Billion Sep 2022
GDP from Agriculture 11.11 11.78 EUR Billion Sep 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
-0.20 0.50 9.00 -9.50 1970 - 2022 percent Quarterly
SA

News Stream
German GDP Unexpectedly Contracts in Q4
Germany's gross domestic product shrank by 0.2 percent on quarter in the final three months of 2022, following an upwardly revised 0.5 percent expansion in the previous period and defying market expectations of stagnation, a preliminary estimate showed. The contraction in Europe's largest economy was mainly led by a decline in household consumption, amid rising interest rates and stubbornly high inflation. On a yearly basis, the economic growth slowed to 1.1 percent in the fourth quarter, the weakest since a 2.1 percent contraction recorded in the first quarter of 2021.
2023-01-30
Germany GDP Growth Rate Revised Higher to 0.4%
The German economy expanded 0.4% on quarter in Q3 2022, slightly better than a 0.3% rise in the first estimate, and following a 0.1% growth in Q2. Household expenditure was the main driver and jumped 1%, as consumers took the opportunity to travel and go out more, after nearly all Covid-19 restrictions had been lifted, despite continuing sharp price increases and the energy crisis. In contrast, government spending was flat and gross fixed capital formation in construction were down 1.4% while investment in machinery and equipment rose considerably (2.7%). Meanwhile, trade with foreign countries went up, boosted by the continuing high stock of orders and improved supply chains worldwide, with exports up 2% and imports 2.4%. On the production side, manufacturing was the key driver (0.9%), namely the automotive industry and manufacture of machinery and equipment. Most service branches also rose, namely trade, transport, accommodation and food services (+3.3%).
2022-11-25
German Economy Unexpectedly Grows in Q3
Germany's economy grew by 0.3 percent on quarter in the three months to September 2022, following a meager 0.1 percent expansion in the previous period and beating market expectations of a 0.2 percent contraction, a preliminary estimate showed. Private consumption expenditure was the only driver of growth, even as Europe's largest economy struggles with surging energy prices, supply chain interruptions, weakening external demand, and the war in Ukraine. On a yearly basis, German GDP advanced by 1.2 percent in the third quarter, also beating forecasts of 0.8 percent.
2022-10-28