The German economy expanded 1.6% on quarter in the second quarter of 2021, slightly more than 1.5% in the preliminary estimate, and rebounding from a downwardly revised 2% contraction in the first 3 months of the year, supported by private consumption and state spending after COVID-19 restrictions were eased. Private consumption surged 3.2% (-5.2% in Q1) contributing 1.6 percentage points to overall growth, public spending grew 1.8% (-0.7% in Q1) contributing 0.4% and gross fixed capital formation were up 0.5% (-0.7% in Q1). However, both exports (0.5% vs 1.4%) and imports (2.1% vs 4.2%) rose at a slower pace. Year-on-year, the economy advanced 9.4%. The German GDP is expected to grow 3.7% this year, although it may miss full-year growth targets due to the coronavirus delta variant, according to the Bundesbank. source: Federal Statistical Office
GDP Growth Rate in Germany averaged 0.47 percent from 1970 until 2021, 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 September of 2021.
GDP Growth Rate in Germany is expected to be 3.80 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 0.50 percent in 2022 and 0.40 percent in 2023, according to our econometric models.