The German economy contracted a seasonally-adjusted 0.1 percent on quarter in the three months to June 2019, unrevised from the preliminary estimate and following a 0.4 percent growth in the previous period. Net external demand contributed negatively to the GDP as exports fell faster than imports, while investment in construction declined markedly. GDP Growth Rate in Germany averaged 0.51 percent from 1970 until 2019, reaching an all time high of 4 percent in the second quarter of 1970 and a record low of -4.70 percent in the first quarter of 2009.

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. Looking forward, we estimate GDP Growth Rate in Germany to stand at 0.30 in 12 months time. In the long-term, the Germany GDP Growth Rate is projected to trend around 0.50 percent in 2020, according to our econometric models.

Germany GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2019-05-15 06:00 AM GDP Growth Rate QoQ Flash Q1 0.4% 0% 0.4% 0.3%
2019-05-23 06:00 AM GDP Growth Rate QoQ Final Q1 0.4% 0% 0.4% 0.4%
2019-08-14 06:00 AM GDP Growth Rate QoQ Flash Q2 -0.1% 0.4% -0.1% -0.3%
2019-08-27 06:00 AM GDP Growth Rate QoQ Final Q2 -0.1% 0.4% -0.1% -0.1%
2019-11-14 07:00 AM GDP Growth Rate QoQ Flash Q3 -0.1% -0.2%
2019-11-22 07:00 AM GDP Growth Rate QoQ Final Q3 -0.1% -0.2%



German GDP Contraction Confirmed in Q2

The German economy contracted a seasonally-adjusted 0.1 percent on quarter in the three months to June 2019, unrevised from the preliminary estimate and following a 0.4 percent growth in the previous period. Net external demand contributed negatively to the GDP as exports fell faster than imports, while investment in construction declined markedly.

Negative contributions to the GDP growth came from foreign trade (-0.5 percentage points), while gross fixed capital formation was neutral. On the other hand, both household consumption and government spending added 0.1 percentage points, respectively; and changes in inventories contributed 0.3 percentage points.

Exports of goods and services fell 1.3 percent in the June quarter (vs 1.8 percent in Q1) while imports dropped at a slower 0.3 percent (vs 0.9 percent in Q1). In addition, fixed investment declined by 0.1 percent (vs 1.6 percent in Q1) due to a marked fall in construction investment (-1 percent vs 2.5 percent) as mild weather at the beginning of the year led to high growth rates for fixed capital formation in construction in the first quarter. Meanwhile, investment grew in both machinery and equipment (0.6 percent vs 1.4 percent) and in other products (1 percent vs -0.6 percent).

Household consumption edged up 0.1 percent (vs 0.8 percent in Q1) and government spending advanced 0.5 percent (vs 0.8 percent in Q1).

Year-on-year, the economy grew a calendar-adjusted 0.4 percent in the June quarter, slowing from a 0.9 percent expansion in the previous three-month period. On an unadjusted basis, the economy stagnated, after a 0.8 percent advance in the first quarter.


Destatis | Rida Husna | rida@tradingeconomics.com
8/27/2019 10:03:22 AM



Germany GDP Last Previous Highest Lowest Unit
GDP Growth Rate -0.10 0.40 4.00 -4.70 percent [+]
GDP Annual Growth Rate 0.40 0.90 7.20 -6.90 percent [+]
GDP 3996.76 3693.20 3996.76 215.02 USD Billion [+]
GDP Constant Prices 810.77 811.38 811.38 552.61 EUR Billion [+]
Gross National Product 878.52 874.74 878.52 390.99 EUR Billion [+]
Gross Fixed Capital Formation 171.80 172.03 172.03 119.05 EUR Billion [+]
GDP per capita 47501.80 46987.80 47501.80 19624.70 USD [+]
GDP per capita PPP 45959.40 45462.00 45959.40 31287.10 USD [+]
GDP From Agriculture 7.53 6.86 7.53 3.62 EUR Billion [+]
GDP From Construction 42.14 34.86 44.76 14.52 EUR Billion [+]
GDP From Manufacturing 167.27 166.50 174.50 90.00 EUR Billion [+]
GDP From Public Administration 138.88 141.48 147.21 51.97 EUR Billion [+]
GDP From Services 127.26 117.72 127.26 53.44 EUR Billion [+]


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. 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 - actual data, historical chart and calendar of releases - was last updated on September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-0.10 0.40 4.00 -4.70 1970 - 2019 percent Quarterly
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Country Last Previous
Indonesia 4.20 Jun/19
South Africa 3.10 Jun/19
United States 2.00 Jun/19
China 1.60 Jun/19
Turkey 1.20 Jun/19
India 1.00 Jun/19
South Korea 1.00 Jun/19
Canada 0.90 Jun/19
Australia 0.50 Jun/19
Netherlands 0.50 Jun/19
Spain 0.50 Jun/19
Brazil 0.40 Jun/19
France 0.30 Jun/19
Japan 0.30 Jun/19
Switzerland 0.30 Jun/19
Euro Area 0.20 Jun/19
Italy 0.00 Jun/19
Mexico 0.00 Jun/19
Saudi Arabia 0.00 Mar/19
Germany -0.10 Jun/19
United Kingdom -0.20 Jun/19
Argentina -0.30 Jun/19
Russia -0.40 Mar/19
Singapore -3.30 Jun/19


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