The German economy shrank a seasonally-adjusted 0.2 percent on quarter in the three months to September of 2018, unrevised from the preliminary estimate and after a 0.5 percent growth in the previous period. This was the first quarterly contraction since the first quarter of 2015 due to declines in both exports and household consumption. GDP Growth Rate in Germany averaged 0.51 percent from 1970 until 2018, reaching an all time high of 4 percent in the second quarter of 1970 and a record low of -4.50 percent in the first quarter of 2009.

GDP Growth Rate in Germany is expected to be 0.40 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 0.50 in 12 months time. In the long-term, the Germany GDP Growth Rate is projected to trend around 0.60 percent in 2020, according to our econometric models.

Germany GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-08-14 06:00 AM GDP Growth Rate QoQ Flash 0.5% 0.4% 0.5% 0.5%
2018-08-24 06:00 AM GDP Growth Rate QoQ Final 0.5% 0.4% 0.5% 0.5%
2018-11-14 07:00 AM GDP Growth Rate QoQ Flash -0.2% 0.5% -0.1% -0.2%
2018-11-23 07:00 AM GDP Growth Rate QoQ Final -0.2% 0.5% -0.2% -0.2%
2019-02-14 07:00 AM GDP Growth Rate QoQ Flash 0.40%
2019-02-22 07:00 AM GDP Growth Rate QoQ Final 0.40%
2019-05-15 06:00 AM GDP Growth Rate QoQ Flash 0.50%



German Q3 GDP Contraction Confirmed



The German economy shrank a seasonally-adjusted 0.2 percent on quarter in the three months to September of 2018, unrevised from the preliminary estimate and after a 0.5 percent growth in the previous period. This was the first quarterly contraction since the first quarter of 2015 due to declines in both exports and household consumption.

The largest negative contributions to the GDP growth came from foreign trade (-1 percentage points) and household consumption (-0.1 percentage points). Meanwhile, government spending was neutral while gross fixed capital formation added 0.2 percentage points to the GDP and changes in inventories contributed 0.7 percentage points.

Exports of goods and services declined by 0.9 percent in the third quarter, compared to a 0.8 percent growth in the second quarter. At the same time, imports grew 1.3 percent, following a 1.5 percent rise in the previous period.

Household consumption dropped 0.3 percent (vs 0.3 percent in Q2) amid reluctance to buy new cars while government spending rose 0.2 percent (vs 0.8 percent in Q2). Meanwhile, fixed investment expanded at a faster pace (0.8 percent vs 0.5 percent in Q2), driven by investment in machinery and equipment (0.8 percent vs 0.1 percent), construction (0.9 percent, the same as in Q2) and other fixed assets (0.2 percent vs 0.3 percent). 

Year-on-year, the economy expanded a calendar-adjusted 1.1 percent in the third quarter, following a 2 percent growth in the previous three-month period. On an unadjusted basis, the GDP grew by 1.1 percent, much weaker than a 2.3 percent advance in the June quarter.



Destatis | Rida | rida@tradingeconomics.com
11/23/2018 4:05:52 PM



Germany GDP Last Previous Highest Lowest Unit
GDP Growth Rate -0.20 0.50 4.00 -4.50 percent [+]
GDP Annual Growth Rate 1.10 2.00 7.20 -6.80 percent [+]
GDP 3677.44 3477.80 3890.61 215.02 USD Billion [+]
GDP Constant Prices 744.61 746.09 746.09 507.82 EUR Billion [+]
Gross National Product 865.59 865.45 865.59 389.85 EUR Billion [+]
Gross Fixed Capital Formation 153.73 152.58 153.73 107.51 EUR Billion [+]
GDP per capita 46747.19 45923.01 46747.19 19624.75 USD [+]
GDP per capita PPP 45229.25 44431.82 45229.25 31287.07 USD [+]
GDP From Agriculture 6.24 5.48 7.26 3.20 EUR Billion [+]
GDP From Construction 43.69 40.66 43.69 14.47 EUR Billion [+]
GDP From Manufacturing 178.02 182.04 182.04 90.56 EUR Billion [+]
GDP From Public Administration 137.67 133.80 139.36 50.63 EUR Billion [+]
GDP From Services 125.83 126.46 126.46 53.73 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 December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-0.20 0.50 4.00 -4.50 1970 - 2018 percent Quarterly
SA




Country Last Previous
United States 3.50 Sep/18
Indonesia 3.09 Sep/18
Singapore 3.00 Sep/18
South Africa 2.20 Sep/18
India 1.90 Jun/18
China 1.60 Sep/18
Russia 0.90 Jun/18
Brazil 0.80 Sep/18
Mexico 0.80 Sep/18
South Korea 0.60 Sep/18
Spain 0.60 Sep/18
United Kingdom 0.60 Sep/18
Canada 0.50 Sep/18
France 0.40 Sep/18
Australia 0.30 Sep/18
Euro Area 0.20 Sep/18
Netherlands 0.20 Sep/18
Saudi Arabia -0.05 Mar/18
Italy -0.10 Sep/18
Germany -0.20 Sep/18
Switzerland -0.20 Sep/18
Japan -0.60 Sep/18
Turkey -1.10 Sep/18
Argentina -4.00 Jun/18


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