Press releases - Gross domestic product up 0.2% in the 3rd quarter of 2016 - Federal Statistical Office (Destatis)
Press release 403 / 2016-11-15: Gross domestic product up 0.2% in the 3rd quarter of 2016
WIESBADEN - German economic growth is losing some momentum. In the third quarter of 2016, the gross domestic product (GDP) rose 0.2% on the second quarter of 2016 after adjustment for price, seasonal and calendar variations; this is reported by the Federal Statistical Office (Destatis). In the first half of the year, the GDP had increased somewhat more, by 0.4% in the second quarter and 0.7% in the first quarter.
In a quarter-on-quarter comparison (adjusted for price, seasonal and calendar variations), positive contributions were made mainly by domestic final consumption expenditure. The final consumption expenditure of both households and government continued to increase. According to provisional results, fixed capital formation in machinery and equipment was somewhat lower and in construction somewhat higher than in the previous quarter. The development of foreign trade had a downward effect on growth. Exports were slightly down while imports were slightly up compared with the second quarter of 2016.
Economic growth decelerated somewhat also in a year-on-year comparison. The price-adjusted GDP was up by 1.5% in the third quarter of 2016 (1.7% when calendar-adjusted), following a 3.1% increase in the second quarter and a 1.5% increase in the first quarter of 2016 (1.8% and 1.9%, respectively, when calendar-adjusted).
In addition to calculating first data for the third quarter of 2016, the Federal Statistical Office reviewed and revised, where necessary, the results published previously for the first and second quarter of 2016. 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 %. qtr = quarter
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 %.
A long time series with quarterly results on the gross domestic product starting with the first quarter of 1970 is available here.