The German economy expanded by 0.1% quarter-on-quarter in Q3 2024, revised down from an initial estimate of a 0.2% rise, and slightly rebounding from a 0.3% contraction in the previous period. Household consumption grew by 0.3%, recovering from a 0.5% decline in Q2, while government spending growth slowed to 0.4% from 1.6%. Fixed investments also fell at a softer pace (-0.1% vs. -2.1%), driven by smaller declines in construction (-0.3% vs. -2.2%) and machinery and equipment (-0.2% vs. -3.4%). Meanwhile, net trade contributed negatively to GDP, as imports rose 0.2% (vs. 1.2%) while exports dropped 1.9% (vs. 0.2%). On a yearly basis, the economy fell 0.3%, matching the same pace as in the previous period, and coming more than the initial estimates of a 0.2% drop. source: Federal Statistical Office

The Gross Domestic Product (GDP) in Germany expanded 0.10 percent in the third quarter of 2024 over the previous quarter. GDP Growth Rate in Germany averaged 0.47 percent from 1970 until 2024, reaching an all time high of 8.60 percent in the third quarter of 2020 and a record low of -8.90 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 January of 2025.

The Gross Domestic Product (GDP) in Germany expanded 0.10 percent in the third quarter of 2024 over the previous quarter. GDP Growth Rate in Germany is expected to be 0.30 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 2025 and 0.30 percent in 2026, according to our econometric models.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-10-30 09:00 AM QoQ Flash Q3 0.2% -0.3% -0.1% -0.1%
2024-11-22 07:00 AM QoQ Final Q3 0.1% -0.3% 0.2% 0.2%
2025-01-30 09:00 AM QoQ Flash Q4 0.1% 0.3%


Related Last Previous Unit Reference
Full Year GDP Growth -0.30 1.40 percent Dec 2023
GDP Growth Rate YoY -0.30 -0.30 percent Sep 2024
GDP Constant Prices 902.59 901.64 EUR Billion Sep 2024
GDP from Agriculture 7.42 7.36 EUR Billion Sep 2024
GDP from Construction 31.60 31.98 EUR Billion Sep 2024
GDP from Manufacturing 170.84 173.31 EUR Billion Sep 2024
GDP from Public Administration 173.51 171.35 EUR Billion Sep 2024
GDP from Services 130.92 130.80 EUR Billion Sep 2024
GDP Growth Rate 0.10 -0.30 percent Sep 2024
Gross Fixed Capital Formation 176.84 177.04 EUR Billion Sep 2024
Gross National Product 1112.85 1121.06 EUR Billion Sep 2024

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.
Actual Previous Highest Lowest Dates Unit Frequency
0.10 -0.30 8.60 -8.90 1970 - 2024 percent Quarterly
SA


News Stream
German Economy Grows Less Than Initially Thought
The German economy expanded by 0.1% quarter-on-quarter in Q3 2024, revised down from an initial estimate of a 0.2% rise, and slightly rebounding from a 0.3% contraction in the previous period. Household consumption grew by 0.3%, recovering from a 0.5% decline in Q2, while government spending growth slowed to 0.4% from 1.6%. Fixed investments also fell at a softer pace (-0.1% vs. -2.1%), driven by smaller declines in construction (-0.3% vs. -2.2%) and machinery and equipment (-0.2% vs. -3.4%). Meanwhile, net trade contributed negatively to GDP, as imports rose 0.2% (vs. 1.2%) while exports dropped 1.9% (vs. 0.2%). On a yearly basis, the economy fell 0.3%, matching the same pace as in the previous period, and coming more than the initial estimates of a 0.2% drop.
2024-11-22
Germany Economy Unexpectedly Grows
The German economy expanded 0.2% qoq in Q3 2024, rebounding from a 0.3% fall in Q2, and beating forecasts of a 0.1% contraction, preliminary estimates showed. Government and household final consumption in particular, were up. Data for Q2 was revised to show the economy contracted at a sharper 0.3%, compared to previous estimates of a 0.1% decline. Year-on-year, the GDP shrank 0.2%, a sixth consecutive quarter of no growth, following a downwardly revised 0.3% fall in Q2. The German government projects a 0.2% contraction in GDP for 2024, marking the country’s first two-year recession since the early 2000s, following a 0.3% decline in 2023. The economy faces significant headwinds, including elevated energy costs, weak external demand, and a loss of competitiveness in the auto sector. However, the government expects a recovery in 2025, forecasting a 1.1% GDP growth driven by a rebound in private consumption, renewed demand for industrial exports, and a turnaround in investment activity.
2024-10-30
German Q2 GDP Contraction Confirmed
Germany’s economy shrank by 0.1% qoq in Q2 of 2024, matching preliminary estimates while shifting from a 0.2% growth in Q1. Private consumption fell by 0.2%, swinging from a 0.3% rise in Q1. At the same time, gross fixed capital formation deteriorated (-2.2% vs 0.1%), mainly pressured by declines in construction investment (-2.0% vs 0.8%) and equipment investment (-4.1% vs -1.6%). Also, net trade was a drag to the economy, reducing 0.1 percentage points following a positive contribution in the preceding quarter, with exports shrinking (-0.2% vs 1.3%) while imports stagnated (vs 0.8%). Meanwhile, government spending grew by 1.0%, a reversal from a 0.1% fall in Q1. On a yearly basis, the economy showed no growth, compared with a 0.1% contraction in Q1.
2024-08-27