Germany's economy shrank 2.2 percent on quarter in the three months to March 2020, following a 0.1 percent fall in the previous period and entering a recession. This was the steepest contraction in the GDP since the first quarter of 2009 and the second steepest contraction since German unification, as efforts to contain the COVID-19 pandemic forced many businesses to close and people to stay at home. Household consumption slumped 3.2 percent after being unchanged in the previous quarter, while fixed investment in machinery and equipment tumbled 6.9 percent (vs -2.0 percent in Q4) and that in other products dropped 0.3 percent (vs 1.1 percent). Net trade also contributed negatively to the GDP, as exports and imports fell. Government spending was little-changed (0.2 percent vs 0.1 percent), while investment in construction increased considerably (4.1 percent vs 0.1 percent).

GDP Growth Rate in Germany averaged 0.49 percent from 1970 until 2020, reaching an all time high of 4 percent in the second quarter of 1970 and a record low of -4.70 percent in the first quarter of 2009. 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 May of 2020. source: Federal Statistical Office

GDP Growth Rate in Germany is expected to be -10.60 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 1.50 in 12 months time. In the long-term, the Germany GDP Growth Rate is projected to trend around 1.40 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
-2.20 -0.10 4.00 -4.70 1970 - 2020 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-02-14 07:00 AM QoQ Flash Q4 0% 0.2% 0.1% 0.2%
2020-02-25 07:00 AM QoQ Final Q4 0% 0.2% 0% 0%
2020-05-15 08:00 AM QoQ Flash Q1 -2.2% -0.1% -2.2% -2.4%
2020-05-25 06:00 AM QoQ Final Q1 -2.2% -0.1% -2.2% -2.2%
2020-08-14 06:00 AM QoQ Flash Q2 -2.2% -10.6%
2020-08-25 06:00 AM QoQ Final Q2 -2.2% -10.6%
2020-11-13 07:00 AM QoQ Flash Q3 3.6%
2020-11-24 07:00 AM QoQ Final Q3 3.6%


News Stream
German Economy Enters Recession as Virus Hits
Germany's economy shrank 2.2 percent on quarter in the three months to March 2020, following a 0.1 percent fall in the previous period and entering a recession. This was the steepest contraction in the GDP since the first quarter of 2009 and the second steepest contraction since German unification, as efforts to contain the COVID-19 pandemic forced many businesses to close and people to stay at home. Household consumption slumped 3.2 percent after being unchanged in the previous quarter, while fixed investment in machinery and equipment tumbled 6.9 percent (vs -2.0 percent in Q4) and that in other products dropped 0.3 percent (vs 1.1 percent). Net trade also contributed negatively to the GDP, as exports and imports fell. Government spending was little-changed (0.2 percent vs 0.1 percent), while investment in construction increased considerably (4.1 percent vs 0.1 percent).
2020-05-25
German GDP Falls the Most Since 2009
Germany's economy shrank 2.2 percent on quarter in the three months to March 2020, following a 0.1 percent fall in the previous period and entering a recession, a preliminary estimate showed. This was the largest decline in the GDP since the first quarter of 2009 and the second steepest contraction since German unification, as efforts to contain the coronavirus pandemic forced many businesses to close and people to stay at home. Private consumer spending dropped sharply as well as investments in equipment, particularly in machinery, equipment and vehicles. In addition, both exports and imports were down, while increases in government spending and investments in construction helped to support the economy.
2020-05-15
German Q4 GDP Stagnation Confirmed
Germany's economy showed no growth in the fourth quarter of 2019, following a 0.2 percent expansion in the previous three-month period, as household consumption stagnated (vs 0.5 percent in Q3) and net trade contributed negatively to the GDP due to a 0.2 percent decline in exports (vs 1.0 percent in Q3) and a 1.3 percent rise in imports (vs -0.4 percent in Q3). Meanwhile, government spending rose only slightly (0.3 percent vs 1.3 percent) and fixed investment in construction increased 0.6 percent (vs 0.4 percent in Q3) due in part to the mild weather. Investment in machinery and equipment investment fell 2.0 percent (vs -1.4 percent in Q3).
2020-02-25
German Economy Unexpectedly Stagnates in Q4
Germany's gross domestic product unexpectedly showed no growth in Q4 2019, after an upwardly revised 0.2% growth in Q3 and missing market expectations of a 0.1% advance, a preliminary estimate showed. Both household consumption and government spending slowed markedly, while investment in machinery and equipment was down. Meanwhile, exports fell slightly, while imports rose, suggesting that net trade had a negative impact on the economy. Year-on-year, the economy expanded by a calendar-adjusted 0.4 percent in Q4, following an upwardly revised 0.6% growth in Q3 and matching forecasts. On an unadjusted basis, the economy expanded 0.3%, slowing from an upwardly revised 1.1% expansion in Q3. Considering full 2019, the economy expanded 0.6%, well below 1.5% in 2018 and the lowest since 2013.
2020-02-14

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.