Germany's economy shrank 1.8 percent on quarter in the three months to March 2021, slightly worse than a preliminary estimate of 1.7 percent fall and following a 0.5 percent growth in the previous period. Europe's largest economy slipped back into contraction after a partial recovery in the second half of 2020, due to restrictions imposed to contain the coronavirus pandemic. Household consumption fell by 5.4 percent and investment in machinery and equipment was down 0.2 percent. In addition, net external demand contributed negatively to the GDP as imports rose 3.8 percent and imports increased at a softer 1.8 percent. Meanwhile, gross fixed capital formation in construction grew by 1.1 percent and government spending was 0.2 percent higher. Compared with the fourth quarter of 2019, the quarter before the coronavirus crisis hit the economy, GDP was 5.0 percent lower. source: Federal Statistical Office

GDP Growth Rate in Germany averaged 0.46 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 June 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.

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Germany GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-1.80 0.50 8.70 -9.70 1970 - 2021 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2021-01-29 09:00 AM QoQ Flash Q4 0.1% 8.5% 0% 0%
2021-02-24 07:00 AM QoQ Final Q4 0.3% 8.5% 0.1% 0.1%
2021-04-30 08:00 AM QoQ Flash Q1 -1.7% 0.5% -1.5% -1.4%
2021-05-25 06:00 AM QoQ Final Q1 -1.8% 0.5% -1.7% -1.7%
2021-07-30 06:00 AM QoQ Flash Q2 -1.8% 1.7%
2021-08-24 06:00 AM QoQ Final Q2 -1.8%
2021-10-29 07:00 AM QoQ Flash Q3 4%
2021-11-23 07:00 AM QoQ Final Q3


News Stream
German GDP Contracts More than Initially Thought
Germany's economy shrank 1.8 percent on quarter in the three months to March 2021, slightly worse than a preliminary estimate of 1.7 percent fall and following a 0.5 percent growth in the previous period. Europe's largest economy slipped back into contraction after a partial recovery in the second half of 2020, due to restrictions imposed to contain the coronavirus pandemic. Household consumption fell by 5.4 percent and investment in machinery and equipment was down 0.2 percent. In addition, net external demand contributed negatively to the GDP as imports rose 3.8 percent and imports increased at a softer 1.8 percent. Meanwhile, gross fixed capital formation in construction grew by 1.1 percent and government spending was 0.2 percent higher. Compared with the fourth quarter of 2019, the quarter before the coronavirus crisis hit the economy, GDP was 5.0 percent lower.
2021-05-25
German Economy Contracts More than Forecast
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.
2021-04-30
German GDP Growth Revised Higher
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.
2021-02-24
Germany GDP Unexpectedly Grows 0.1% in Q4
The German economy expanded 0.1 percent on quarter in the last three months of 2020, beating market forecasts of a flat reading, and despite a coronavirus national lockdown imposed from mid-December. Fresh restrictions affected household consumption in particular, while exports of goods and gross fixed capital formation in construction supported the economy, flash estimates showed. The economy contracted 5 percent in 2020 and is expected to shrink in Q1 2021 as the lockdown was extended until mid-February. The GDP is seen growing 3% in 2021 according to government forecasts, below 4.4% earlier estimated.
2021-01-29

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.