Gross domestic product up 0.8% in the 3rd quarter of 2017

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

Headline: Gross domestic product up 0.8% in the 3rd quarter of 2017

WIESBADEN – German economic growth continues at a high rate. The Federal Statistical Office (Destatis) reports that, in the third quarter of 2017, the gross domestic product (GDP) rose 0.8% on the second quarter of 2017 after adjustment for price, seasonal and calendar variations. In the first half of 2017, the GDP had also increased markedly, by 0.6% in the second quarter and 0.9% in the first quarter.The quarter-on-quarter comparison (upon adjustment for price, seasonal and calendar variations) shows that positive contributions came for instance from foreign trade. In the third quarter of 2017, the increase in exports was higher than that of imports. Arithmetically, the balance of exports and imports had a positive effect on the GDP in a quarter-on-quarter comparison. While final consumption expenditure of both general government and households remained rather stable at the previous quarter’s level, gross fixed capital formation made a positive contribution to economic growth. Especially gross fixed capital formation in machinery and equipment increased on the previous quarter.

Economic growth accelerated year on year, too. The price adjusted GDP rose 2.3% (calendar adjusted: 2.8%) in the third quarter of 2017, following increases of 1.0% in the second quarter of 2017 (calendar adjusted: 2.3%) and 3.4% in the first quarter of 2017 (calendar adjusted: 2.1%).

The economic performance in the third quarter of 2017 was achieved by 44.5 million persons in employment in the domestic territory, which was an increase of 668,000 or 1.5% on a year earlier.

In addition to calculating first data for the third quarter of 2017, the Federal Statistical Office reviewed and revised, where necessary, the results published previously for the first and second quarters of 2017. Regarding the gross domestic product in the first and second quarters of 2017, the previous results were slightly revised upwards.
Gross domestic product, Price-adjusted, chain-linked Unadjusted figuresFigures according to Census X-12-ARIMASeasonally andcalendar-adjustedCalendar-adjusted 1Calendar-effect2010 = 100%22010 = 100%32010 = 100%2%2 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 = quarter2015108.56 1.7108.47 1.5108.47 1.5 0.22016110.67 1.9110.48 1.9110.48 1.9 0.120151stqtr107.30 1.3107.82 0.1107.44 1.2 0.12ndqtr107.24 1.8108.30 0.4107.59 1.8–0.03rdqtr110.75 1.8108.65 0.3110.52 1.7 0.14thqtr108.96 2.1109.11 0.4108.33 1.3 0.820161stqtr108.88 1.5109.80 0.6109.43 1.9–0.42ndqtr110.75 3.3110.31 0.5109.63 1.9 1.43rdqtr112.65 1.7110.68 0.3112.55 1.8–0.14thqtr110.39 1.3111.14 0.4110.32 1.8–0.520171stqtr112.55 3.4112.13 0.9111.78 2.1 1.22ndqtr111.86 1.0112.84 0.6112.17 2.3–1.33rdqtr115.27 2.3113.77 0.8115.68 2.8–0.4Gross domestic product at current prices Unadjusted figuresSeasonally and calendar-adjusted figures according toCensus X-12-ARIMAEUR billionChange in %1EUR billionChange in %2 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 %.

qtr = quarter
20153,043.650 3.83,040.956 3.520163,144.050 3.33,138.772 3.220151stqtr741.910 3.3750.566 0.82ndqtr749.150 3.9758.216 1.03rdqtr774.480 3.8762.722 0.64thqtr778.110 4.2769.452 0.92016
1stqtr765.200 3.1777.097 1.02ndqtr784.050 4.7782.336 0.73rdqtr797.120 2.9786.442 0.54thqtr797.680 2.5792.897 0.820171stqtr798.080 4.3800.938 1.02ndqtr804.390 2.6812.652 1.53rdqtr831.050 4.3823.883 1.4Comparison 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-ARIMA2015108.471.5108.471.52016110.481.9110.481.920151stqtr107.820.1107.820.12ndqtr108.300.4108.300.43rdqtr108.650.3108.650.34thqtr109.110.4109.110.420161stqtr109.800.6109.800.62ndqtr110.310.5110.310.53rdqtr110.680.3110.680.34thqtr111.140.4111.140.420171stqtr112.130.9111.930.72ndqtr112.840.6112.620.63rdqtr113.770.8xxUnadjusted figures2015108.561.7108.561.72016110.671.9110.671.920151stqtr107.301.3107.301.32ndqtr107.241.8107.241.83rdqtr110.751.8110.751.84thqtr108.962.1108.962.120161stqtr108.881.5108.881.52ndqtr110.753.3110.753.33rdqtr112.651.7112.651.74thqtr110.391.3110.391.320171stqtr112.553.4112.353.22ndqtr111.861.0111.640.83rdqtr115.272.3xxMore detailed results will be released by the Federal Statistical Office on 24 November 2016.

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

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