The German economy stalled in the second quarter of 2022 compared to the previous three months, and missing market forecasts of a 0.1% rise, preliminary estimates showed. Upward contributions came from household and government spending while net trade weighed down on the growth. In the first quarter, the German economy grew by a revised 0.8%, much higher than initial estimates of 0.2%. The difficult framework conditions in the global economy, including the Covid-19 pandemic, interruptions in supply chains and the war in Ukraine, are clearly reflected in the short-term economic development, according to Destatis. The outlook for the rest of the year remains challenging as the energy crisis persists and inflation and interest rates are elevated, with a recession becoming more likely. 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 -9.40 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 August of 2022.
GDP Growth Rate in Germany is expected to be 0.20 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 0.50 percent in 2024, according to our econometric models.