Germany's economy shrank by a record 11.7 percent year-on-year in the second quarter of 2020, entering a steep recession and compared to market expectations of a 11.3 percent fall, a preliminary estimate showed, as coronavirus-induced lockdowns hit activity and consumption.
GDP Annual Growth Rate in Germany averaged 1.89 percent from 1971 until 2020, reaching an all time high of 7.20 percent in the first quarter of 1973 and a record low of -11.70 percent in the second quarter of 2020. This page provides the latest reported value for - Germany GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Germany GDP Annual Growth Rate - values, historical data and charts - was last updated on August of 2020. source: Federal Statistical Office
GDP Annual Growth Rate in Germany is expected to be -8.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Germany to stand at 9.20 in 12 months time. In the long-term, the Germany GDP Annual Growth Rate is projected to trend around 6.50 percent in 2021 and 2.50 percent in 2022, according to our econometric models.