The German economy expanded 0.1 percent on quarter in the last three months of 2020, beating market forecasts of a flat reading, and despite a coronavirus national lockdown imposed from mid-December. Fresh restrictions affected household consumption in particular, while exports of goods and gross fixed capital formation in construction supported the economy, flash estimates showed. The economy contracted 5 percent in 2020 and is expected to shrink in Q1 2021 as the lockdown was extended until mid-February. The GDP is seen growing 3% in 2021 according to government forecasts, below 4.4% earlier estimated. source: Federal Statistical Office
GDP Growth Rate in Germany averaged 0.47 percent from 1970 until 2020, reaching an all time high of 8.50 percent in the third quarter of 2020 and a record low of -9.80 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 February of 2021.
GDP Growth Rate in Germany is expected to be -1.70 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 1.10 in 12 months time. In the long-term, the Germany GDP Growth Rate is projected to trend around 0.60 percent in 2022, according to our econometric models.