Press releases - Gross domestic product up 0.7% in the 1st quarter of 2016 - Federal Statistical Office (Destatis)
Press release 162 / 2016-05-13: Gross domestic product up 0.7% in the 1st quarter of 2016
WIESBADEN - The German economy gained pace at the start of this year. In the first quarter of 2016, the gross domestic product (GDP) rose 0.7% on the fourth quarter of 2015 after adjustment for price, seasonal and calendar variations. The moderate growth path of last year ( 0.3% in the last quarter of 2015) thus accelerated, reports the Federal Statistical Office (Destatis).
The quarter-on-quarter comparison - following price, seasonal and calendar adjustment - shows that positive contributions mainly came from domestic demand, according to provisional calculations. The final consumption expenditure of both households and general government increased at the beginning of the year. Capital formation was higher, too. Due to the continued mild weather, fixed capital formation in construction as well as machinery and equipment was markedly up compared with the fourth quarter of 2015. According to provisional calculations, however, the development of foreign trade had a slight downward effect on growth because imports increased more markedly than exports.
In the context of the first calculation of data for the first quarter of 2016, the Federal Statistical Office also revised - and modified where necessary - the national accounting results published previously for the individual quarters of 2015 and the year as a whole. This did not result in any changes of the gross domestic product data published so far.
1 For years the calendar-adjusted values are identical with the seasonally and calendar-adjusted values (except for differences due to rounding). 2 Change on the previous year or the same quarter of the preceding year in %. 3 Change on the previous year or previous quarter in %.
1 Change on the previous year or the same quarter of the preceding year in %. 2 Change on the previous year or previous quarter in %.