Germany's gross domestic product shrank by 9.7 percent on quarter in the April-June period, compared to a preliminary reading of a 10.1 percent plunge. This was the deepest quarterly GDP contraction on record, as efforts to contain the rapid spread of COVID-19 weighed on activity and demand. Household consumption tumbled 10.9 percent (vs -2.5 percent in Q1) and fixed investment slumped 7.9 percent (vs -0.5 percent in Q1) led by investment in machinery and equipment (-19.6 percent vs -7.3 percent) and in construction (-4.2 percent vs 5.1 percent). At the same time, exports plummeted 20.3 percent (vs -3.3 percent in Q1), while imports fell at a softer 16.0 percent (vs -1.9 percent in Q1). On a calendar-adjusted basis, the economy contracted 11.3 percent, also the steepest decline on record. source: Federal Statistical Office

GDP Growth Rate in Germany averaged 0.43 percent from 1970 until 2020, reaching an all time high of 4 percent in the second quarter of 1970 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 October of 2020.

GDP Growth Rate in Germany is expected to be 8.50 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 1.40 in 12 months time. In the long-term, the Germany GDP Growth Rate is projected to trend around 1.40 percent in 2021 and 0.60 percent in 2022, according to our econometric models.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
width
height
Germany GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-9.70 -2.00 4.00 -9.70 1970 - 2020 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-05-15 08:00 AM QoQ Flash Q1 -2.2% -0.1% -2.2% -2.4%
2020-05-25 06:00 AM QoQ Final Q1 -2.2% -0.1% -2.2% -2.2%
2020-07-30 08:00 AM QoQ Flash Q2 -10.1% -2.0% -9% -9.2%
2020-08-25 06:00 AM QoQ Final Q2 -9.7% -2.0% -10.1% -10.1%
2020-10-30 07:00 AM QoQ Flash Q3 -9.7% 7.3% 7.2%
2020-11-24 07:00 AM QoQ Final Q3 -9.7% 8.5%


News Stream
German GDP Contraction Steepest on Record
Germany's economy shrank by 9.7 percent on quarter in the April-June period, compared to a preliminary reading of a 10.1 percent plunge. This was the deepest quarterly GDP contraction on record, as efforts to contain the rapid spread of COVID-19 weighed on activity and demand. Household consumption tumbled 10.9 percent (vs -2.5 percent in Q1) and fixed investment slumped 7.9 percent (vs -0.5 percent in Q1) led by investment in machinery and equipment (-19.6 percent vs -7.3 percent) and in construction (-4.2 percent vs 5.1 percent). At the same time, exports plummeted 20.3 percent (vs -3.3 percent in Q1), while imports fell at a softer 16.0 percent (vs -1.9 percent in Q1). On a calendar-adjusted basis, the economy contracted 11.3 percent, also the steepest decline on record.
2020-08-25
German Economy Contracts at Record Pace
Germany's gross domestic product shrank by 10.1 percent on quarter in the April-June period, the most on record and compared to market expectations of a 9.0 percent contraction, a preliminary estimate showed. Germany was one of the first countries in Europe to start lifting lockdown measures, after the pandemic forced many non-essential businesses to close and people to stay at home for more than a month. However, a second wave of infections could lead to the re-imposition of more restrictions and hamper the economic recovery. A massive slump was recorded for exports and imports of goods and services as well as for household consumption and capital formation in machinery and equipment. General government, however, raised its spending in efforts to support the economy amid the crisis.
2020-07-30
German Economy Enters Recession as Virus Hits
Germany's economy shrank 2.2 percent on quarter in the three months to March 2020, following a 0.1 percent fall in the previous period and entering a recession. This was the steepest contraction in the GDP since the first quarter of 2009 and the second steepest contraction since German unification, as efforts to contain the COVID-19 pandemic forced many businesses to close and people to stay at home. Household consumption slumped 3.2 percent after being unchanged in the previous quarter, while fixed investment in machinery and equipment tumbled 6.9 percent (vs -2.0 percent in Q4) and that in other products dropped 0.3 percent (vs 1.1 percent). Net trade also contributed negatively to the GDP, as exports and imports fell. Government spending was little-changed (0.2 percent vs 0.1 percent), while investment in construction increased considerably (4.1 percent vs 0.1 percent).
2020-05-25
German GDP Falls the Most Since 2009
Germany's economy shrank 2.2 percent on quarter in the three months to March 2020, following a 0.1 percent fall in the previous period and entering a recession, a preliminary estimate showed. This was the largest decline in the GDP since the first quarter of 2009 and the second steepest contraction since German unification, as efforts to contain the coronavirus pandemic forced many businesses to close and people to stay at home. Private consumer spending dropped sharply as well as investments in equipment, particularly in machinery, equipment and vehicles. In addition, both exports and imports were down, while increases in government spending and investments in construction helped to support the economy.
2020-05-15

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.