Detailed gross domestic product results for the 2nd quarter of 2018

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Source: Destatis Statistisches Bundesamt – In EnglishGross domestic product, 2nd quarter of 2018• +0.5% on the previous quarter (price, seasonally and calendar-adjusted)• +2.3% on the same quarter a year earlier (price-adjusted)• +2.0% on the same quarter a year earlier (price and calendar adjusted) Enlarge picture WIESBADEN – The German economy continues to grow. As the Federal Statistical Office (Destatis) already reported in its first release of 14 August 2018, the gross domestic product (GDP) increased by 0.5% – upon price, seasonal and calendar adjustment – in the second quarter of 2018 compared with the previous quarter. In the first quarter of 2018, GDP growth had been slightly smaller (0.4%).
Gross domestic product, price-adjusted, chain-linked(figures adjusted for seasonal and calendar effects using Census X-12-ARIMA)Changes on a quarter earlier (in percent):
2016
2017
2018
1stqtr
2ndqtr
3rdqtr
4thqtr
1stqtr
2ndqtr
3rdqtr
4thqtr
1stqtr
2ndqtr
+0.9
+0.4
+0.2
+0.4
+1.1
+0.5
+0.6
+0.5
+0.4
+0.5
Quarter-on-quarter contributions to growth came from domestic demandThe quarter-on-quarter comparison following price, seasonal and calendar adjustment shows that, on the use side of the gross domestic product, positive contributions mainly came from domestic demand. The final consumption expenditure of households rose by 0.3% and government final consumption expenditure increased by 0.6% on the previous quarter. Capital formation was higher, too. Fixed capital formation in machinery and equipment increased by 0.3% and in construction by 0.6% on the first quarter of 2018. Overall, domestic uses increased markedly by 0.9% compared with the first three months of the year.
According to provisional calculations, exports of goods and services were up 0.7% compared with the first quarter of 2018. There was a notably larger increase in imports (+1.7%) over the same period.
Year-on-year comparison shows strong economic growthCompared with a year earlier, the price adjusted GDP rose 2.3% in the second quarter of 2018 (first quarter of 2018: +1.4%).
Gross domestic product, price-adjusted, chain-linked (unadjusted figures)Changes on a year earlier (in percent):
2016
2017
2018
1stqtr
2ndqtr
3rdqtr
4thqtr
1stqtr
2ndqtr
3rdqtr
4thqtr
1stqtr
2ndqtr
+2.0
+3.7
+1.9
+1.4
+3.4
+0.9
+2.2
+2.2
+1.4
+2.3
When calendar-adjusted, GDP growth in the second quarter of 2018 was 2.0% (following 2.1% in the first quarter of 2018). There was one working day more than in the second quarter of 2017.
Number of persons in employment continued to rise in the 2nd quarter of 2018The economic performance in the second quarter of 2018 was achieved by 44.8 million persons in employment in the domestic territory, which was an increase of 599,000 or 1.4% on a year earlier (see press release 301/18 of 14 August 2018).
According to first provisional results of the Institute for Employment Research of the Federal Employment Agency, the average number of hours worked per person in employment also increased by 1.4%. The labour volume of the overall economy, which is the total number of hours worked by all persons in employment, rose by 2.7%.
Overall labour productivity (price-adjusted gross domestic product per hour worked by persons in employment) was down 0.4% on the previous year, according to provisional calculations. Measured per person in employment, labour productivity rose by 1.0%.
Growth contributions mainly came from domestic demand also in a year-on-year comparisonThe year-on-year comparison shows that positive contributions to growth came from domestic demand in the second quarter of 2018. After price-adjustment, the final consumption expenditure of both households and government rose by 1.0%. Compared with the second quarter of 2017, gross fixed capital formation in machinery and equipment grew by 5.4% (price- adjusted). Gross fixed capital formation in construction was up by 3.2%. A year-on-year increase was recorded especially in housing construction. On the whole, domestic uses rose by 2.2%.
In the second quarter of 2018, both exports of goods and services (+4.2%) and imports (+4.1%) were up on the same period of the previous year, according to provisional calculations.
Gross value added higher in almost all economic sectorsOn the production side of the gross domestic product, the total price-adjusted gross value added was up on the second quarter of 2017 in all economic sectors with the exception of agriculture and forestry. The highest growth rates were recorded for information and communication (+4.8%) and in manufacturing (+3.8%). Overall, gross value added was up by 2.4% in all economic sectors.
Strong increase in compensation of employeesAt current prices, both the gross domestic product and the gross national income were up 4.2% in the second quarter of 2018 compared with the second quarter of 2017. Net national income at factor cost rose a total 4.1% according to first provisional calculations, with the compensation of employees (+4.7%) growing markedly faster than property and entrepreneurial income (+3.0%). Both gross and net wages and salaries of employees rose 4.9% on the second quarter of 2017. On average, wages and salaries per employee did not rise that much (3.2% in both gross and net terms) because the number of employees was up as well (+1.7%) compared with the same quarter a year earlier. The disposable income of households increased by 3.2%, the rise being higher than that of household final consumption expenditure at current prices (+2.6%).
Revision of previous resultsAs every year in August, the Federal Statistical Office also reviewed and revised, where necessary, the results published previously for the last four years (from 2014) and for the first quarter of 2018 in the context of the first calculation of data for the second quarter of 2018. The first provisional results are revised several times to incorporate new statistical information. In this way, data users are always supplied with the best possible results for analyses and projections. As reported in the first release of 14 August 2018, 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 0.5 percentage points. Markedly larger corrections were required for individual GDP components. As is usual for seasonally and calendar-adjusted series, modified results may also appear in the whole time series from 1991 onwards.
National accounts data may be accessed via the Destatis website. More detailed results are published in Fachserie 18 “National Accounts”, Series 1.2 “Quarterly results“ and Series 1.3 “Seasonally adjusted quarterly results using Census X-12-ARIMA and BV 4.1”. The above and other publications can be downloaded from National accounts. A detailed quality report on national accounts is available at the internet.  
Gross domestic product
 
Unadjusted figures
Figures according toCensus X-12-ARIMAprice-adjusted, chain-linked
At current prices
Price-adjusted, chain-linked
Seasonally and calendar-adjusted
calendar-adjusted
EUR billion
% 1
2010 = 100
% 1
2010 = 100
% 2
% 1 3
1 Change on the previous year or the same quarter of the preceding year in %.2 Change on the previous year or quarter in %.3 As for years, the calendar-adjusted values equal the seasonally and calendar-adjusted values (except for differences due to rounding).qtr = quarter
2014
2,938.59
 4.0
106.96
 2.2
107.13
 2.2
 2.2
2015
3,048.86
 3.8
108.82
 1.7
108.72
 1.5
 1.5
2016
3,159.75
 3.6
111.26
 2.2
111.06
 2.2
 2.2
2017
3,277.34
 3.7
113.66
 2.2
113.79
 2.5
 2.5
2014
1stqtr
719.60
 5.0
106.15
 3.2
106.73
 1.0
 3.0
2nd qtr
722.41
 3.4
105.62
 1.5
106.67
-0.1
 1.9
3rdqtr
747.80
 3.4
108.99
 1.7
107.04
 0.3
 1.6
4thqtr
748.78
 4.1
107.10
 2.4
108.07
 1.0
 2.2
2015
1stqtr
742.83
 3.2
107.51
 1.3
107.92
-0.1
 1.2
2nd qtr
750.56
 3.9
107.51
 1.8
108.56
 0.6
 1.8
3rdqtr
775.48
 3.7
110.91
 1.8
108.89
 0.3
 1.7
4thqtr
779.99
 4.2
109.34
 2.1
109.49
 0.6
 1.3
2016
1stqtr
770.40
 3.7
109.68
 2.0
110.49
 0.9
 2.4
2nd qtr
789.22
 5.2
111.45
 3.7
110.98
 0.4
 2.3
3rdqtr
799.88
 3.1
113.05
 1.9
111.17
 0.2
 2.1
4thqtr
800.25
 2.6
110.86
 1.4
111.60
 0.4
 1.9
2017
1stqtr
803.37
 4.3
113.40
 3.4
112.84
 1.1
 2.1
2nd qtr
808.72
 2.5
112.45
 0.9
113.46
 0.5
 2.2
3rdqtr
833.24
 4.2
115.50
 2.2
114.12
 0.6
 2.6
4thqtr
832.01
 4.0
113.27
 2.2
114.73
 0.5
 2.8
2018
1stqtr
828.98
 3.2
114.95
 1.4
115.15
 0.4
 2.1
2nd qtr
842.86
 4.2
115.09
 2.3
115.67
 0.5
 2.0

Use of the gross domestic productUnadjusted figures 
 
2014
2015
2016
2017
2018
1stqtr
2ndqtr
qtr = quarter
At current prices
EUR bn
Consumption expenditure
2,158.105
2,218.284
2,291.063
2,371.051
587.033
606.069
Final consumption expenditure of households and NPISHs
1,594.143
1,630.887
1,675.569
1,732.176
427.673
445.159
Government final consumption expenditure
563.962
587.397
615.494
638.875
159.360
160.910
Gross capital formation
577.006
586.438
621.219
658.497
178.171
171.399
Gross fixed capital formation (GFCF)
587.549
605.510
634.029
665.722
159.732
179.377
GFCF in machinery and equipment
191.698
201.217
206.502
215.214
51.748
56.169
GFCF in construction
289.663
290.742
307.114
326.630
77.273
91.948
GFCF in other products
106.188
113.551
120.413
123.878
30.711
31.260
Domestic uses
2,735.111
2,804.722
2,912.282
3,029.548
765.204
777.468
Exports
1,341.314
1,428.688
1,450.232
1,541.898
389.907
402.068
Imports
1,137.835
1,184.550
1,202.764
1,294.106
326.131
336.676
Gross domestic product (GDP)
2,938.590
3,048.860
3,159.750
3,277.340
828.980
842.860
Price-adjusted, chain-linked
Change on the previous year in %
Consumption expenditure
1.2
2.0
2.6
1.7
1.4
1.0
Final consumption expenditure of households and NPISHs
1.0
1.7
2.1
1.8
1.6
1.0
Government final consumption expenditure
1.6
2.9
4.0
1.6
0.8
1.0
Gross capital formation
3.1
0.1
4.6
3.2
1.9
6.7
Gross fixed capital formation (GFCF)
3.9
1.6
3.5
2.9
2.2
3.4
GFCF in machinery and equipment
5.9
4.1
2.2
3.7
4.7
5.4
GFCF in construction
2.2
-1.4
3.8
2.9
1.4
3.2
GFCF in other products
5.1
5.4
5.2
1.3
0.4
0.4
Domestic uses
1.6
1.6
3.0
2.0
1.5
2.2
Exports
4.7
5.3
2.3
4.6
2.2
4.2
Imports
3.7
5.6
4.1
4.8
2.7
4.1
Gross domestic product (GDP)
2.2
1.7
2.2
2.2
1.4
2.3
memorandum item:
GDP per person in employment
1.4
0.8
0.9
0.7
-0.1
1.0
GDP per hour worked by persons in employment
1.0
0.6
1.4
0.9
1.0
-0.4
Contributions to growth of price-adjusted GDP in percentage points
Consumption expenditure
0.9
1.5
1.9
1.2
1.0
0.7
Final consumption expenditure of households and NPISHs
0.6
0.9
1.1
0.9
0.8
0.5
Government final consumption expenditure
0.3
0.6
0.8
0.3
0.2
0.2
Gross capital formation
0.6
0.0
0.9
0.6
0.4
1.3
Gross fixed capital formation (GFCF)
0.8
0.3
0.7
0.6
0.4
0.7
GFCF in machinery and equipment
0.4
0.3
0.2
0.2
0.3
0.4
GFCF in construction
0.2
-0.1
0.4
0.3
0.1
0.3
GFCF in other products
0.2
0.2
0.2
0.1
0.0
0.0
Changes in inventories and so on
-0.2
-0.3
0.2
0.1
0.0
0.6
Domestic uses
1.5
1.5
2.7
1.9
1.4
2.0
Balance of exports and imports (net exports)
0.7
0.2
-0.5
0.3
-0.1
0.4

 Use of the gross domestic productSeasonally and calendar-adjusted figures according to Census X-12-ARIMA
  
2017
2018
1stqtr
2ndqtr
3rdqtr
4thqtr
1stqtr
2ndqtr
1 Only seasonally adjusted.qtr = quarter
At current prices
EUR bn
Consumption expenditure
586.298
591.501
594.925
599.915
604.157
608.946
Final consumption expenditure of households and NPISHs
428.831
432.672
434.601
437.660
441.594
444.482
Government final consumption expenditure
157.467
158.829
160.324
162.255
162.563
164.464
Gross capital formation
160.416
165.025
166.543
167.842
170.464
178.630
Gross fixed capital formation (GFCF)
163.253
166.342
167.946
169.868
173.386
175.436
GFCF in machinery and equipment
52.352
53.832
54.572
55.102
56.169
56.478
GFCF in construction
80.300
81.653
82.298
83.422
85.804
87.301
GFCF in other products
30.601
30.857
31.076
31.344
31.413
31.657
Domestic uses
746.714
756.526
761.468
767.757
774.621
787.576
Exports
378.834
383.855
387.285
395.168
395.100
399.056
Imports
319.233
323.595
323.042
330.405
331.800
339.004
Gross domestic product (GDP)
806.315
816.786
825.711
832.520
837.921
847.628
Price-adjusted, chain-linked
Change on the previous quarter in %
Consumption expenditure
0.6
0.7
0.1
0.3
0.3
0.4
Final consumption expenditure of households and NPISHs
0.7
0.8
0.1
0.2
0.5
0.3
Government final consumption expenditure
0.5
0.4
0.3
0.4
-0.3
0.6
Gross capital formation
-0.2
1.3
1.2
0.3
0.9
2.6
Gross fixed capital formation (GFCF)
2.0
1.3
0.4
0.3
1.4
0.5
GFCF in machinery and equipment
2.2
2.7
1.2
0.5
2.3
0.3
GFCF in construction
2.5
0.7
-0.1
0.2
1.6
0.6
GFCF in other products
0.5
0.4
0.2
0.4
-0.5
0.3
Domestic uses
0.5
0.8
0.4
0.3
0.4
0.9
Exports
2.3
1.1
1.2
1.7
-0.3
0.7
Imports
1.0
1.8
0.8
1.3
-0.2
1.7
Gross domestic product (GDP)
1.1
0.5
0.6
0.5
0.4
0.5
memorandum item:
GDP per person in employment
0.7
0.2
0.3
0.2
-0.1
0.3
GDP per hour worked by persons in employment 1
0.3
0.6
-0.1
0.7
-0.2
-.07
Contributions to growth of price-adjusted GDP in percentage points
Consumption expenditure
0.5
0.5
0.1
0.2
0.2
0.3
Final consumption expenditure of households and NPISHs
0.4
0.4
0.0
0.1
0.3
0.2
Government final consumption expenditure
0.1
0.1
0.1
0.1
-0.1
0.1
Gross capital formation
0.0
0.3
0.2
0.1
0.2
0.5
Gross fixed capital formation (GFCF)
0.4
0.3
0.1
0.1
0.3
0.1
GFCF in machinery and equipment
0.1
0.2
0.1
0.0
0.2
0.0
GFCF in construction
0.2
0.1
0.0
0.0
0.2
0.1
GFCF in other products
0.0
0.0
0.0
0.0
0.0
0.0
Changes in inventories and so on
-0.4
0.0
0.2
0.0
-0.1
0.4
Domestic uses
0.4
0.7
0.3
0.3
0.4
0.8
Balance of exports and imports (net exports)
0.7
-0.2
0.3
0.3
-0.1
-0.4

Gross value added by economic sector
 
2014
2015
2016
2017
2018
1stqtr
2ndqtr
qtr = quarter
At current prices
EUR bn
Agriculture, forestry and fishing
25.683
19.901
21.054
25.472
5.378
5.495
Industry, excluding construction
681.773
710.116
747.836
772.523
197.224
201.479
including:
Manufacturing
601.431
630.671
666.300
690.213
175.165
182.001
Construction
119.974
125.771
133.905
144.300
31.863
39.809
Trade, transport, accommodation and food services
417.908
440.443
456.189
478.409
116.352
126.550
Information and communication
125.172
128.775
133.195
137.237
35.823
34.643
Financial and insurance activities
109.396
111.568
113.056
113.337
28.137
28.228
Real estate activities
293.374
302.353
308.254
316.158
81.398
81.046
Business services
289.107
301.403
308.710
319.354
82.259
80.218
Public services, education, health
476.363
492.954
512.317
531.297
137.417
134.096
Other services
107.694
112.053
113.224
116.609
29.762
29.165
Gross value added, total
2,646.444
2,745.337
2,847.740
2,954.696
745.613
760.729
Price-adjusted, chain-linked
Change on the previous year in %
Agriculture, forestry and fishing
14.0
-14.4
-2.2
3.0
0.3
-0.1
Industry, excluding construction
4.8
2.5
4.8
2.4
1.7
3.2
including:
Manufacturing
5.4
2.5
4.7
2.7
1.8
3.8
Construction
3.6
0.0
1.8
2.4
1.8
2.3
Trade, transport, accommodation and food services
1.6
1.5
1.3
3.4
1.9
2.4
Information and communication
5.2
2.2
3.4
3.6
3.7
4.8
Financial and insurance activities
-5.1
-0.8
0.4
0.4
0.3
0.8
Real estate activities
-0.2
0.2
0.0
1.1
0.9
1.2
Business services
2.5
2.0
1.0
2.6
1.7
3.0
Public services, education,health
0.8
2.3
2.6
1.4
1.4
1.5
Other services
0.2
0.9
-1.1
1.2
0.1
1.4
Gross value added, total
2.2
1.5
2.2
2.2
1.5
2.4

Distribution of gross national income
 
2014
2015
2016
2017
2018
1stqtr
2ndqtr
qtr = quarter
At current prices
EUR bn
Gross national income
2,996.077
3,114.633
3,222.405
3,346.282
850.992
845.874
Net national income (factor costs)
2,187.143
2,279.791
2,363.723
2,456.391
621.178
615.354
Compensation of employees
1,485.437
1,542.901
1,600.975
1,668.810
407.916
427.023
Property and entrepreneurial income
701.706
736.890
762.748
787.581
213.262
188.331
Gross wages and salaries of employees
1,213.023
1,261.373
1,311.859
1,366.618
333.596
349.616
Net wages and salaries of employees
807.186
837.187
869.114
902.933
220.774
225.770
memorandum item:
Disposable income of households
1,711.314
1,755.199
1,807.726
1,869.916
481.645
480.780
Savings ratio (in %)
9.5
9.7
9.8
9.9
13.5
9.9
Change on the previous year in %
Gross national income
3.7
4.0
3.5
3.8
3.1
4.2
Net national income (factor costs)
4.0
4.2
3.7
3.9
2.9
4.1
Compensation of employees
3.9
3.9
3.8
4.2
4.6
4.7
Property and entrepreneurial income
4.1
5.0
3.5
3.3
-0.1
3.0
Gross wages and salaries of employees
3.9
4.0
4.0
4.2
4.8
4.9
Net wages and salaries of employees
3.7
3.7
3.8
3.9
4.8
4.9
memorandum item:
Disposable income of households
2.5
2.6
3.0
3.4
3.5
3.2
>>> brief methodological description
For further information:National accounts info team,tel: +49 (0) 611 / 75 26 26,contact form

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