Gross domestic product up 0.6% in the 2nd quarter of 2017

By   /  August 15, 2017  /  Comments Off on Gross domestic product up 0.6% in the 2nd quarter of 2017

    Print       Email

MIL OSI – Source: Destatis Statistisches Bundesamt – In English –

Headline: Gross domestic product up 0.6% in the 2nd quarter of 2017

WIESBADEN – The German economy continues to grow. In the second quarter of 2017, the gross domestic product (GDP) rose 0.6% on the previous quarter after adjustment for price, seasonal and calendar variations. Based on most recent calculations, the Federal Statistical Office (Destatis) also reports that GDP growth in the first quarter of 2017 had been slightly larger (0.7%)The quarter-on-quarter comparison (upon adjustment for price, seasonal and calendar variations) shows that positive contributions came from domestic demand. Final consumption expenditure of both households and general government increased markedly. Capital formation was up, too. There was an increase in fixed capital formation in machinery and equipment, in construction and in other fixed assets compared with the first quarter of 2017. According to provisional calculations, the development of foreign trade, however, had a downward effect on growth because the price-adjusted quarter-on-quarter increase in imports was considerably larger than that of exports.

Year on year the price-adjusted GDP rose 0.8% in the second quarter of 2017 (first quarter of 2017: +3.2%). However, the calendar effect in the first two quarters of 2017 was above average because, in the first quarter, there were 3 working days more and, in the second quarter, there were 3 working days less than a year earlier. When calendar-adjusted, GDP growth in the second quarter of 2017 was 2.1% (following 2.0% in the first quarter of 2017).

The economic performance in the second quarter of 2017 was achieved by 44.2 million persons in employment in the domestic territory, which was an increase of 664,000, or 1.5%, on a year earlier.

As every year in August, the Federal Statistical Office also reviewed and revised where necessary the results published previously for the last four years (from 2013) and for the first quarter of 2017 in the context of the first calculation of data for the second quarter of 2017. Modifications of the seasonally and calendar-adjusted results may appear in the whole time series from 1991 onwards.

The current recalculation resulted in price-adjusted change rates of the annual and quarterly GDP that differ from the data published previously by up to 0.4 percentage points. Especially the GDP change rates for the quarters and the year of 2014 were mainly revised upwards (see table “Comparison between previous and new figures, gross domestic product, price-adjusted, chain-linked”).

These regular revisions are routinely carried out to incorporate new statistical information in the relevant calculations. Thus the statistical data basis for calculating the GDP and other macroeconomic aggregates is becoming increasingly reliable. The source statistics required for the ‘final’ calculation of national accounts results are available in a complete manner after four years at the latest so that the results will only then be final and will need no further regular revision..
Gross domestic productPrice-adjusted, chain-linked Unadjusted figuresFigures according to Census X-12-ARIMASeasonally and calendar-adjustedCalendar-adjusted 1Calendar effect2010 = 100%22010 = 100%32010 = 100% 2% 21 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 = quarter2013 104.68 0.5 104.84 0.6 104.84 0.6 – 0.1 2014 106.70 1.9 106.86 1.9 106.86 1.9  0.0 2015 108.56 1.7 108.47 1.5 108.47 1.5  0.2 2016 110.67 1.9 110.48 1.9 110.48 1.9  0.1 20131st qtr102.87–1.5 103.78–0.2 103.34–0.3 –1.2 2nd qtr104.04 0.9 104.70 0.9 103.96 0.5  0.4 3rd qtr107.19 1.2 105.23 0.5 107.11 0.7  0.5 4th qtr104.60 1.4 105.66 0.4 104.96 1.5 –0.2 20141st qtr105.93 3.0 106.59 0.9 106.19 2.8  0.2 2nd qtr105.36 1.3 106.41–0.2 105.69 1.7 –0.4 3rd qtr108.77 1.5 106.75 0.3 108.62 1.4  0.1 4th qtr106.73 2.0 107.70 0.9 106.95 1.9  0.1 20151st qtr107.30 1.3 107.82 0.1 107.44 1.2  0.1 2nd qtr107.24 1.8 108.30 0.4 107.59 1.8 –0.0 3rd qtr110.75 1.8 108.65 0.3 110.52 1.7  0.1 4th qtr108.96 2.1 109.11 0.4 108.33 1.3  0.8 20161st qtr108.88 1.5 109.80 0.6 109.43 1.9 –0.4 2nd qtr110.75 3.3 110.31 0.5 109.63 1.9  1.4 3rd qtr112.65 1.7 110.68 0.3 112.55 1.8 –0.1 4th qtr110.39 1.3 111.14 0.4 110.32 1.8 –0.5 20171st qtr112.35 3.2 111.93 0.7 111.58 2.0  1.2 2nd qtr111.64 0.8 112.62 0.6 111.95 2.1 –1.3 Gross domestic product at current prices Unadjusted figuresSeasonally and calendar-adjusted figures according toCensus X-12-ARIMAEUR bn.Change in % 1EUR bn.Change in %2 1Change on the previous year or the same quarter of the preceding year in %.2 Change on the previous year or previous quarter in %.

qtr = quarter
20132,826.240 2.5 2,830.771 2.6 20142,932.470 3.8 2,937.002 3.8 20153,043.650 3.8 3,040.956 3.5 20163,144.050 3.3 3,138.772 3.2 20131st qtr685.460 0.4 695.743 0.3 2nd qtr698.330 3.0 704.922 1.3 3rd qtr723.160 3.1 712.179 1.0 4th qtr719.290 3.3 717.927 0.8 20141st qtr718.510 4.8 727.637 1.4 2nd qtr720.820 3.2 729.970 0.3 3rd qtr746.310 3.2 735.042 0.7 4th qtr746.830 3.8 744.353 1.3 20151st qtr741.910 3.3 750.566 0.8 2nd qtr749.150 3.9 758.216 1.0 3rd qtr774.480 3.8 762.722 0.6 4th qtr778.110 4.2 769.452 0.9 20161st qtr765.200 3.1 777.097 1.0 2nd qtr784.050 4.7 782.336 0.7 3rd qtr797.120 2.9 786.442 0.5 4th qtr797.680 2.5 792.897 0.8 20171st qtr796.560 4.1 799.408 0.8 2nd qtr802.390 2.3 810.646 1.4 Comparison between previous and new figuresGross domestic product. price-adjusted. chain-linkedNew resultPrevious resultchain index(2010 = 100)percentage change1chain index(2010 = 100)percentage change11 Seasonally and calendar-adjusted figures: Change on the previous year or the same quarter of the preceding year in %.Unadjusted figures: Change on the previous year or the same quarter of the preceding year in %.qtr = quarterSeasonally and calendar-adjusted figures according to Census X-12-ARIMA2013104.840.6104.840.62014106.861.9106.511.62015108.471.5108.091.52016110.481.9110.021.820131st qtr103.78–0.2103.79–0.22nd qtr104.700.9104.740.93rd qtr105.230.5105.210.44th qtr105.660.4105.600.420141st qtr106.590.9106.230.62nd qtr106.41–0.2106.12–0.13rd qtr106.750.3106.420.34th qtr107.700.9107.260.820151st qtr107.820.1107.440.22nd qtr108.300.4108.000.53rd qtr108.650.3108.260.24th qtr109.110.4108.650.420161st qtr109.800.6109.430.72nd qtr110.310.5109.940.53rd qtr110.680.3110.120.24th qtr111.140.4110.580.420171st qtr111.930.7111.250.62nd qtr112.620.6xxUnadjusted figures2013104.680.5104.680.52014106.701.9106.351.62015108.561.7108.181.72016110.671.9110.201.920131st qtr102.87–1.5102.87–1.52nd qtr104.040.9104.040.93rd qtr107.191.2107.191.24th qtr104.601.4104.601.420141st qtr105.933.0105.552.62nd qtr105.361.3105.020.93rd qtr108.771.5108.431.24th qtr106.732.0106.381.720151st qtr107.301.3106.891.32nd qtr107.241.8106.891.83rd qtr110.751.8110.351.84th qtr108.962.1108.592.120161st qtr108.881.5108.501.52nd qtr110.753.3110.283.23rd qtr112.651.7112.081.64th qtr110.391.3109.961.320171st qtr112.353.2111.602.92nd qtr111.640.8xxMore detailed results will be released by the Federal Statistical Office on 25 August 2017. 

A long time series with quarterly results on the gross domestic product starting with the first quarter of 1970 is available here.

>>> brief methodological description

For further information:National accounts info team,tel: +49 (0) 611 / 75 26 26,contact form

Press release in other language
to the top

    Print       Email

You might also like...

Wittmann feiert dritten DTM-Saisonsieg im Regen von Assen – Insgesamt vier BMW Fahrer sammeln Punkte.

Read More →