Germany's gross domestic product expanded 0.2 percent on quarter in the first three months of 2022, recovering from a 0.3 percent contraction in the previous period and in line with the preliminary estimates. Growth was mainly supported by a bounce back in capital formation (2.7% vs flat reading in Q4), amid a rebound in construction investment and a faster rise in machinery and equipment investment. Meantime, government spending was subdued (0.1% vs 0.2%), with household consumption falling at a softer rate (-0.1% vs -1.3%). Meantime, net exports had a downward effect on the economy as outbound shipments fell (-2.1% vs 3.8%) while imports continued o grow (0.9% vs 4.1%). Russia’s attack on Ukraine and the related sanctions have an impact on many parts of the economy and society since late February. On a yearly basis, the economy grew by 3.8 percent, slightly above the flash data of a 3.7% expansion and marking the fastest yearly growth in three quarters. source: Federal Statistical Office
GDP Growth Rate in Germany averaged 0.48 percent from 1970 until 2022, reaching an all time high of 9 percent in the third quarter of 2020 and a record low of -10 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 July of 2022.
GDP Growth Rate in Germany is expected to be -0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Germany GDP Growth Rate is projected to trend around 0.40 percent in 2023 and 0.30 percent in 2024, according to our econometric models.