Germany's gross domestic product grew by a record 8.5 percent in the three months to September 2020, compared to a preliminary estimate of an 8.2 percent expansion and after the historic slump of 9.8 percent in the second quarter. The expansion was supported by a rebound in household consumption (10.8 percent vs -11.1 percent in Q2), and strong fixed investment in machinery and equipment (16 percent vs -15.1 percent). In addition, net exports added positively to the growth as exports increased by 18.1 percent (vs -20.5 percent in Q2) while imports rose at a softer 9.1 percent (vs -15.9 percent in Q2). Year-on-year, the economy shrank by 4 percent in the September quarter, following a record contraction of 11.3 percent in the second quarter. source: Federal Statistical Office

GDP Growth Rate in Germany averaged 0.47 percent from 1970 until 2020, reaching an all time high of 8.50 percent in the third quarter of 2020 and a record low of -9.80 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 December of 2020.

GDP Growth Rate in Germany is expected to be -1.20 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 1.80 in 12 months time. In the long-term, the Germany GDP Growth Rate is projected to trend around 1.10 percent in 2021 and 0.60 percent in 2022, according to our econometric models.

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Germany GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
8.50 -9.80 8.50 -9.80 1970 - 2020 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-07-30 08:00 AM QoQ Flash Q2 -10.1% -2.0% -9% -9.2%
2020-08-25 06:00 AM QoQ Final Q2 -9.7% -2.0% -10.1% -10.1%
2020-10-30 09:00 AM QoQ Flash Q3 8.2% -9.8% 7.3% 7.2%
2020-11-24 07:00 AM QoQ Final Q3 8.5% -9.8% 8.2% 8.2%
2021-01-29 07:00 AM QoQ Flash Q4 8.5% -1.2%
2021-02-24 07:00 AM QoQ Final Q4 8.5%
2021-04-30 06:00 AM QoQ Flash Q1 -1.7%
2021-05-25 06:00 AM QoQ Final Q1
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
German Q3 GDP Growth Revised Higher
Germany's gross domestic product grew by a record 8.5 percent in the three months to September 2020, compared to a preliminary estimate of an 8.2 percent expansion and after the historic slump of 9.8 percent in the second quarter. The expansion was supported by a rebound in household consumption (10.8 percent vs -11.1 percent in Q2), and strong fixed investment in machinery and equipment (16 percent vs -15.1 percent). In addition, net exports added positively to the growth as exports increased by 18.1 percent (vs -20.5 percent in Q2) while imports rose at a softer 9.1 percent (vs -15.9 percent in Q2). Year-on-year, the economy shrank by 4 percent in the September quarter, following a record contraction of 11.3 percent in the second quarter.
2020-11-24
German Q3 Economic Growth Stronger than Forecast
Germany's gross domestic product grew by a record 8.2 percent in the three months to September 2020, trying to recover from the historic slump of 9.8 percent seen in the second quarter and beating market consensus of 7.3 percent, a preliminary estimate showed. The expansion was supported by a rebound in household consumption, strong fixed investment in machinery and equipment and a sharp increase in exports. Year-on-year, the economy shrank by 4.3 percent in the third quarter, easing from a record contraction of 11.3 percent in the previous period. The economy was also 4.2 percent smaller when compared with Q4 2019, the quarter before the coronavirus pandemic hit. Meanwhile, Germany's government has revised upwards its 2020 GDP forecast. It now expects the economy to shrink by 5.5 percent, compared to an initial estimate of 5.8 percent decline, before rebounding by 4.4 percent in 2021.
2020-10-30
German GDP Contraction Steepest on Record
Germany's economy shrank by 9.7 percent on quarter in the April-June period, compared to a preliminary reading of a 10.1 percent plunge. This was the deepest quarterly GDP contraction on record, as efforts to contain the rapid spread of COVID-19 weighed on activity and demand. Household consumption tumbled 10.9 percent (vs -2.5 percent in Q1) and fixed investment slumped 7.9 percent (vs -0.5 percent in Q1) led by investment in machinery and equipment (-19.6 percent vs -7.3 percent) and in construction (-4.2 percent vs 5.1 percent). At the same time, exports plummeted 20.3 percent (vs -3.3 percent in Q1), while imports fell at a softer 16.0 percent (vs -1.9 percent in Q1). On a calendar-adjusted basis, the economy contracted 11.3 percent, also the steepest decline on record.
2020-08-25
German Economy Contracts at Record Pace
Germany's gross domestic product shrank by 10.1 percent on quarter in the April-June period, the most on record and compared to market expectations of a 9.0 percent contraction, a preliminary estimate showed. Germany was one of the first countries in Europe to start lifting lockdown measures, after the pandemic forced many non-essential businesses to close and people to stay at home for more than a month. However, a second wave of infections could lead to the re-imposition of more restrictions and hamper the economic recovery. A massive slump was recorded for exports and imports of goods and services as well as for household consumption and capital formation in machinery and equipment. General government, however, raised its spending in efforts to support the economy amid the crisis.
2020-07-30

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.