The German economy expanded 0.3 percent on quarter in the last three months of 2020, much better than initial estimates of a 0.1 percent growth, led by an 8.3 percent jump in gross capital formation, namely in construction and inventories. Net trade also contributed positively while consumer (-3.3 percent) and government spending (-0.5 percent) shrank due to the second coronavirus wave and another lockdown imposed from November. Year-on-year, the economy contracted 3.7 percent. Full 2020 drop was revised lower to -4.9 percent from a preliminary -5.3 percent. The German economy is seen expanding 3 percent in 2021, according to government estimates from late January 2021. source: Federal Statistical Office
GDP Growth Rate in Germany averaged 0.47 percent from 1970 until 2020, reaching an all time high of 8.50 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 February of 2021.
GDP Growth Rate in Germany is expected to be -1.40 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 0.90 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.