The German economy advanced 0.1% on quarter in Q2 2022, compared to preliminary estimates of a flat reading, boosted by by household and government expenditure. Household spending went up 0.6%, as consumers took the opportunity to travel and go out more after nearly all Covid-19 restrictions had been lifted, and despite large price increases and the energy crisis. Government spending went up 2.3% and investment in machinery and equipment 1.1%. On the other hand, gross fixed capital formation in construction sank 3.4% after the unusually good and mild winter. Despite the interruptions in supply chains worldwide, exports of goods and services were up by 0.3% but imports surged at a much faster 1.6%. On the production side, the lifting of the Covid-19 restrictions led to rises in most service branches while there were declines in manufacturing and construction. The German GDP has now returned to the pre-crisis level of Q4 2019 but the outlook is challenging amid an ongoing energy crisis. source: Federal Statistical Office

GDP Growth Rate in Germany averaged 0.48 percent from 1970 until 2022, reaching an all time high of 9 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 October of 2022.

GDP Growth Rate in Germany is expected to be -0.70 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 0.40 percent in 2023 and 0.50 percent in 2024, according to our econometric models.

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Germany GDP Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-07-29 08:00 AM QoQ Flash Q2 0% 0.8% 0.1% -0.2%
2022-08-25 06:00 AM QoQ Final Q2 0.1% 0.8% 0% 0%
2022-10-28 08:00 AM QoQ Flash Q3 0.1% -0.7%


Related Last Previous Unit Reference
GDP Growth Rate 0.10 0.80 percent Jun 2022
GDP Annual Growth Rate 1.70 3.60 percent Jun 2022
GDP Constant Prices 813.27 812.13 EUR Billion Jun 2022
Gross National Product 990.31 980.29 EUR Billion Jun 2022
Gross Fixed Capital Formation 166.96 169.22 EUR Billion Jun 2022
Full Year GDP Growth 2.60 -4.60 percent Dec 2021
GDP from Services 147.09 134.25 EUR Billion Jun 2022
GDP from Public Administration 152.81 165.28 EUR Billion Jun 2022
GDP from Manufacturing 180.46 172.13 EUR Billion Jun 2022
GDP from Construction 52.06 41.37 EUR Billion Jun 2022
GDP from Agriculture 12.15 9.17 EUR Billion Jun 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
0.10 0.80 9.00 -9.50 1970 - 2022 percent Quarterly
SA

News Stream
German Economy Unexpectedly Grows in Q2
The German economy advanced 0.1% on quarter in Q2 2022, compared to preliminary estimates of a flat reading, boosted by by household and government expenditure. Household spending went up 0.6%, as consumers took the opportunity to travel and go out more after nearly all Covid-19 restrictions had been lifted, and despite large price increases and the energy crisis. Government spending went up 2.3% and investment in machinery and equipment 1.1%. On the other hand, gross fixed capital formation in construction sank 3.4% after the unusually good and mild winter. Despite the interruptions in supply chains worldwide, exports of goods and services were up by 0.3% but imports surged at a much faster 1.6%. On the production side, the lifting of the Covid-19 restrictions led to rises in most service branches while there were declines in manufacturing and construction. The German GDP has now returned to the pre-crisis level of Q4 2019 but the outlook is challenging amid an ongoing energy crisis.
2022-08-25
Germany GDP Stalls in Q2
The German economy stalled in the second quarter of 2022 compared to the previous three months, and missing market forecasts of a 0.1% rise, preliminary estimates showed. Upward contributions came from household and government spending while net trade weighed down on the growth. In the first quarter, the German economy grew by a revised 0.8%, much higher than initial estimates of 0.2%. The difficult framework conditions in the global economy, including the Covid-19 pandemic, interruptions in supply chains and the war in Ukraine, are clearly reflected in the short-term economic development, according to Destatis. The outlook for the rest of the year remains challenging as the energy crisis persists and inflation and interest rates are elevated, with a recession becoming more likely.
2022-07-29
German Q1 GDP Rebound Confirmed
Germany's gross domestic product expanded 0.2 percent on quarter in the first three months of 2022, recovering from a 0.3 percent contraction in the previous period and in line with the preliminary estimates. Growth was mainly supported by a bounce back in capital formation (2.7% vs flat reading in Q4), amid a rebound in construction investment and a faster rise in machinery and equipment investment. Meantime, government spending was subdued (0.1% vs 0.2%), with household consumption falling at a softer rate (-0.1% vs -1.3%). Meantime, net exports had a downward effect on the economy as outbound shipments fell (-2.1% vs 3.8%) while imports continued o grow (0.9% vs 4.1%). Russia’s attack on Ukraine and the related sanctions have an impact on many parts of the economy and society since late February. On a yearly basis, the economy grew by 3.8 percent, slightly above the flash data of a 3.7% expansion and marking the fastest yearly growth in three quarters.
2022-05-25