The German economy stagnated in the fourth quarter of 2018 after a 0.2 percent contraction in the July-September period, which was the first time GDP shrank since 2015. An increase in public spending, household consumption and fixed investment offset a negative contribution from inventory changes while net foreign trade was neutral. GDP Growth Rate in Germany averaged 0.51 percent from 1970 until 2018, reaching an all time high of 4 percent in the second quarter of 1970 and a record low of -4.50 percent in the first quarter of 2009.

GDP Growth Rate in Germany is expected to be 0.10 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 0.40 in 12 months time. In the long-term, the Germany GDP Growth Rate is projected to trend around 0.50 percent in 2020, according to our econometric models.

Germany GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-11-14 07:00 AM GDP Growth Rate QoQ Flash -0.2% 0.5% -0.1% -0.2%
2018-11-23 07:00 AM GDP Growth Rate QoQ Final -0.2% 0.5% -0.2% -0.2%
2019-02-14 07:00 AM GDP Growth Rate QoQ Flash 0% -0.2% 0.1% 0.2%
2019-02-22 07:00 AM GDP Growth Rate QoQ Final 0% -0.2% 0% 0%
2019-05-15 06:00 AM GDP Growth Rate QoQ Flash 0% 0.1%
2019-05-23 06:00 AM GDP Growth Rate QoQ Final 0% 0.1%
2019-08-14 06:00 AM GDP Growth Rate QoQ Flash 0.3%



German Q4 Economy Stagnation Confirmed

The German economy stagnated in the fourth quarter of 2018 after a 0.2 percent contraction in the July-September period, which was the first time GDP shrank since 2015.

Positive contributions to the GDP came from domestic demand, in particular government spending (0.3 percentage points), gross fixed capital formation (0.2 percentage points) and household consumption (0.1 percentage points). In contrast, changes in inventories subtracted 0.6 percentage points, while net foreign trade was neutral.

Government spending expanded 1.6 percent, rebounding sharply from a 0.3 percent decline in the third quarter; and household consumption rose 0.2 percent, compared to a 0.3 percent contraction in the September quarter. In addition, fixed investment advanced 0.9 percent (vs 0.4 percent in Q3), boosted by investment in machinery and equipment (0.7 percent vs flat reading), construction (1.3 percent vs 0.7 percent) and other fixed assets (0.5 percent vs 0.2 percent). Exports of goods and services increased 0.7 percent in the three months to December, reversing a 0.9 percent fall in the third quarter; and imports also grew 0.7 percent, compared to a 1.3 percent advance in the preceding quarter.
Year-on-year, the economy expanded a calendar-adjusted 0.6 percent in the fourth quarter, slowing markedly from a 1.1 percent growth the previous three-month period. On an unadjusted basis, the GDP grew by 0.9 percent, weaker than a 1.1 percent advance in the September quarter, amid a more negative contribution from net external demand and despite a faster rise in household consumption (1 percent vs 0.2 percent), governemnt spending (1.8 percent vs 0.5 percent) and gross fixed capital formation (3 percent vs 2.4 percent), namely investment in machinery and equipment (3.5 percent vs 3.4 percent), construction (4 percent vs 2.3 percent) and other products (0.5 percent vs 0.4 percent).


Destatis | Rida Husna | rida@tradingeconomics.com
2/22/2019 11:00:17 AM



Germany GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.00 -0.20 4.00 -4.50 percent [+]
GDP Annual Growth Rate 0.60 1.10 7.20 -6.80 percent [+]
GDP 3677.44 3477.80 3890.61 215.02 USD Billion [+]
GDP Constant Prices 744.78 744.65 746.14 507.82 EUR Billion [+]
Gross National Product 870.53 866.29 870.53 389.85 EUR Billion [+]
Gross Fixed Capital Formation 154.18 152.74 154.18 107.51 EUR Billion [+]
GDP per capita 46747.19 45923.01 46747.19 19624.75 USD [+]
GDP per capita PPP 45229.25 44431.82 45229.25 31287.07 USD [+]
GDP From Agriculture 6.00 6.38 7.26 3.20 EUR Billion [+]
GDP From Construction 45.76 42.96 45.76 14.47 EUR Billion [+]
GDP From Manufacturing 171.65 177.08 182.09 90.56 EUR Billion [+]
GDP From Public Administration 145.67 138.15 145.67 50.63 EUR Billion [+]
GDP From Services 126.53 126.46 126.83 53.73 EUR Billion [+]


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. 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 - actual data, historical chart and calendar of releases - was last updated on March of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.00 -0.20 4.00 -4.50 1970 - 2018 percent Quarterly
SA




Country Last Previous
United States 2.60 Dec/18
Saudi Arabia 1.60 Sep/18
China 1.50 Dec/18
India 1.50 Sep/18
Singapore 1.40 Dec/18
South Africa 1.40 Dec/18
South Korea 1.00 Dec/18
Spain 0.70 Dec/18
Japan 0.50 Dec/18
Netherlands 0.50 Dec/18
France 0.30 Dec/18
Russia 0.30 Sep/18
Australia 0.20 Dec/18
Euro Area 0.20 Dec/18
Mexico 0.20 Dec/18
Switzerland 0.20 Dec/18
United Kingdom 0.20 Dec/18
Brazil 0.10 Dec/18
Canada 0.10 Dec/18
Germany 0.00 Dec/18
Italy -0.10 Dec/18
Argentina -0.70 Sep/18
Indonesia -1.69 Dec/18
Turkey -2.40 Dec/18


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