Germany's gross domestic product dropped 1.7 percent on quarter in the three months to March 2021, slightly worse than the 1.5 percent fall expected, a preliminary estimate showed. Europe's largest economy slipped back into contraction after two periods of growth, as the government imposed strict Covid-19 lockdowns to curb the spread of the pandemic, with private consumption being particularly hard hit and exports of goods providing some support. source: Federal Statistical Office
GDP Growth Rate in Germany averaged 0.47 percent from 1970 until 2021, reaching an all time high of 8.70 percent in the third quarter of 2020 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 May of 2021.
GDP Growth Rate in Germany is expected to be 1.70 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 1.10 in 12 months time. 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.