Germany's economy expanded by 0.2% in the first quarter of 2024, above market expectations of a 0.1% increase and after a 0.5% contraction in the previous period, flash estimates showed. The slight growth was driven by increases in construction investments and exports. Private consumer spending, on the other hand, fell. On a year-on-year basis, the economy contracted by 0.2%, entering a technical recession for the first time since 2020-21. source: Federal Statistical Office
The Gross Domestic Product (GDP) in Germany expanded 0.20 percent in the first 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 8.90 percent in the third quarter of 2020 and a record low of -9.20 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 May of 2024.
The Gross Domestic Product (GDP) in Germany expanded 0.20 percent in the first quarter of 2024 over the previous quarter. GDP Growth Rate in Germany is expected to be 0.20 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.