Germany GDP

Data GDP

Source: Destatis
Source Link: https://www.destatis.de/
Frequency: Monthly
Next Release(s): October 30th, 2025 4:00 AM

Latest Updates

Germany’s GDP contracted -0.3% QoQ in Q2 2025 (revised down from -0.1% prelim) and was down -0.2% YoY (but +0.2% YoY calendar-adjusted), as weaker industrial production and construction offset modest consumption gains.
- Household consumption rose +0.1% QoQ and government consumption +0.8% QoQ, while gross fixed capital formation dropped -1.4% QoQ, led by machinery (-1.9%) and construction (-2.1%).
- Exports fell -0.1% QoQ, with goods down -0.6% and services up +1.4%; imports rose +1.6% QoQ, adding to the drag from net trade.
- Gross value added declined -0.2% QoQ, driven by construction (-3.7%) and manufacturing (-0.3%), while information & communication and business services both grew +0.5%.
- On a YoY basis, gross fixed capital formation fell -1.9%, exports dropped -2.4% (goods -3.6%), and imports rose +3.3%, while household consumption was up +1.2% and government consumption +2.1%.
- Employment was stable YoY (+0.0%), but hours worked declined -0.5%; labour productivity per hour worked rose +0.3%, though productivity per person fell -0.2%.
Source
Germany’s GDP fell -0.1% QoQ in Q2 2025, in line with expectations and well below the +0.3% QoQ increase in Q1, reflecting a slowdown after a strong start to the year.
- Q1 2025 GDP growth was revised down by -0.1 ppts to +0.3% QoQ, while Q4 2024 GDP growth saw a strong upward revision of 0.4 ppts to +0.2% QoQ.
- On a YoY basis, GDP was flat (0.0% YoY), but rose 0.4% YoY after calendar adjustment.
- Gross fixed capital formation in machinery, equipment, and construction declined QoQ.
- Household and government final consumption expenditures increased in the quarter.
Source
Germany’s GDP growth in Q1 2025 was revised up to 0.4% QoQ and 0.0% YoY in the final estimate from 0.2% QoQ and -0.2% YoY in the initial estimate.
- This quarterly growth rate is the strongest since Q2 2022 when GDP grew 0.6% QoQ.
- Final consumption increased 0.2% QoQ with household consumption up 0.5% QoQ offsetting a -0.3% QoQ decline in government consumption.
- Gross capital formation dropped -3.2% QoQ as inventory changes contributed -0.9 ppts. Gross fixed capital formation growth was positive, up 0.9% QoQ.
- With exports up 3.2% QoQ and imports up 1.1% QoQ, the net exports component made a positive contribution of 0.9 ppts that cancelled out the drop in inventories.
- Productivity growth in the quarter was positive, up 0.4% QoQ per employee and up 0.5% QoQ per hour worked, but on an annual basis, both measures of productivity were still negative, down -0.1% YoY and -0.5% YoY.
- The industries leading growth were manufacturing (+1.0% QoQ), trade, transport, accommodation and food services (+1.1% QoQ), and information and communication (+1.7% QoQ).
- Destatis: “Growth was slightly higher than predicted in the first estimate due to the surprisingly good economic development seen in March. In particular, output in manufacturing and exports registered stronger growth than initially assumed.”
Source
Germany’s GDP grew 0.2% QoQ in Q1 2025, recovering slightly from the -0.2% QoQ decline in Q4 2024 and meeting consensus expectations.
- On a YoY basis, GDP was down -0.2% in line with expectations. German GDP growth on a YoY basis has been negative for seven consecutive quarters.
- Growth in Q1 was supported by increases in household consumption and capital formation.
- No revisions were made to previously published quarterly GDP figures after incorporating updated statistical information.
Source
Germany’s GDP growth in Q4 2024 was confirmed at -0.2% QoQ and -0.2% YoY in the second estimate.
- The decline in growth was a result of a -2.2% QoQ drop in exports that was exacerbated by a 0.5% QoQ increase in imports. Net exports made a -1.2 ppt contribution to overall GDP growth.
- Household consumption increased just 0.1% QoQ and was outpaced by government consumption up 0.4% QoQ.
- Gross capital formation jumped 3.9% QoQ in Q4, the second strong quarterly reading in a row, lead by a 1.0% QoQ increase in construction GFCF and an inventory build that added 0.8 ppts to GDP.
- Productivity saw another decline in Q4 as GDP per hour worked fell -0.5% QoQ after declines of -0.6% QoQ in Q2 and -0.1% QoQ in Q3
- Excluding trade and inventories, GDP growth was +0.2% QoQ.
Source
German GDP growth was -0.2% QoQ and -0.2% YoY, a worse-than-expected decline below the projections of -0.1% QoQ and 0.0% YoY, despite household and government consumption increases. Exports were significantly lower. The Q4 results confirm another annual GDP decline of -0.2% in 2024, slightly worse than the -0.1% in 2023.

Source