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.