Germany GDP Growth Rate  1970-2017 | Data | Chart | Calendar | Forecast

The German economy expanded a seasonally-adjusted 0.6 percent in the first quarter of 2017, following a 0.4 percent growth in the previous period and matching the preliminary estimate. It was the strongest rate of expansion since the first quarter of 2016, supported by both domestic and foreign demand. Year-on-year, the GDP advanced 1.7 percent, following a 1.8 percent growth in the previous three months. GDP Growth Rate in Germany averaged 0.51 percent from 1970 until 2017, 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.

Germany GDP Growth Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2017-02-23 07:00 AM Q4 0.4% 0.1% 0.4% 0.4%
2017-05-12 06:00 AM Q1 0.6% 0.4% 0.7% 0.6%
2017-05-23 06:00 AM Q1 0.6% 0.4% 0.6% 0.6%
2017-08-15 06:00 AM Q2 0.6% 0.6%
2017-08-25 06:00 AM Q2 0.6% 0.6%
2017-11-14 07:00 AM Q3 0.5%




German GDP Growth Confirmed At 1-Year High In Q1


The German economy expanded a seasonally-adjusted 0.6 percent in the first quarter of 2017, following a 0.4 percent growth in the previous period and matching the preliminary estimate. It was the strongest rate of expansion since the first quarter of 2016, supported by both domestic and foreign demand.

From the expenditure side, the positive contribution to GDP came from net exports (0.4 percentage points), fixed investment (0.3 percentage points), household consumption (0.2 percentage points) and government spending (0.1 percentage point). In contrast, changes in inventories subtracted 0.4 percentage points from growth.

Quarter-on-quarter, exports rose 1.3 percent (1.7 percent in Q4 2016) while imports also went up at a much slower 0.4 percent (2.5 percent in Q4).

Gross fixed capital formation went up 1.7 percent (0.4 percent in Q4), as construction investment increased by 2.3 percent (0.8 percent in Q4), due to mild weather. Also, investment in machinery and equipment grew by 1.2 percent, rebounding from a 0.1 percent fall in the prior quarter, and investment in other products expanded by 0.8 percent, stronger than a 0.3 percent rise in the preceding three months.

Private consumption rose 0.3 percent (0.2 percent in Q4), and government spending advanced 0.4 percent (0.3 percent in Q4). 

Year-on-year, the GDP advanced 1.7 percent, following a 1.8 percent growth in the previous three months. On a non-seasonally adjusted basis the economy grew 2.9 percent year-on-year (1.3 percent in Q4) mainly boosted by a jump in gross fixed capital formation (3.4 percent from -0.4 percent in Q4), as investment rose for construction (4.7 percent from 0.4 percent in Q4), machinery and equipment (2 percent from -2.6 percent in Q4) and other products (2.5 percent, the same as in Q4). Household spending expanded 1.6 percent (the same as in Q4) and government spending rose 1.5 percent (from 2.7 percent in Q4). Also, net external demand contributed positively, as exports went up 6.6 percent while imports advanced at a slower 5.6 percent.


Destatis l Rida Husna | rida@tradingeconomics.com
5/23/2017 10:25:57 AM



Germany GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.60 0.40 4.00 -4.50 percent [+]
GDP Annual Growth Rate 1.70 1.80 7.20 -6.80 percent [+]
GDP 3363.45 3879.28 3879.28 215.02 USD Billion [+]
GDP Constant Prices 717.56 713.11 717.56 507.63 EUR Billion [+]
Gross National Product 815.75 805.76 815.75 389.80 EUR Billion [+]
Gross Fixed Capital Formation 143.53 141.56 143.53 107.52 EUR Billion [+]
GDP per capita 45260.10 44877.55 45260.10 19625.92 USD [+]
GDP per capita PPP 43787.82 43417.73 43787.82 31287.07 USD [+]
GDP From Agriculture 5.06 4.65 6.42 3.20 EUR Billion [+]
GDP From Construction 28.79 38.35 38.35 14.47 EUR Billion [+]
GDP From Manufacturing 161.69 157.69 164.39 90.56 EUR Billion [+]
GDP From Public Administration 133.31 135.28 135.28 50.63 EUR Billion [+]
GDP From Services 106.81 113.06 114.11 53.73 EUR Billion [+]


Germany GDP Growth Rate Notes

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 May of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
0.60 0.40 4.00 -4.50 1970 - 2017 percent Quarterly



gdp growth rate by Country

Last
Turkey 3.80 Dec/16
India 1.60 Dec/16
China 1.30 Mar/17
United States 1.20 Mar/17
Australia 1.10 Dec/16
South Korea 0.90 Mar/17
Spain 0.80 Mar/17
Mexico 0.70 Mar/17
Canada 0.60 Dec/16
Germany 0.60 Mar/17
Euro Area 0.50 Mar/17
Japan 0.50 Mar/17
Netherlands 0.40 Mar/17
France 0.30 Mar/17
Italy 0.20 Mar/17
United Kingdom 0.20 Mar/17
Switzerland 0.10 Dec/16
Indonesia -0.34 Mar/17
Russia -0.57 Sep/15
Brazil -0.90 Dec/16