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.