Detailed gross domestic product results for the 3rd quarter of 2018

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Source: Destatis Statistisches Bundesamt – In EnglishWIESBADEN – German economic growth has stalled. As the Federal Statistical Office (Destatis) already reported in its first release of 14 November 2018, the gross domestic product (GDP) in the third quarter of 2018 was by 0.2% lower – upon price, seasonal and calendar adjustment – than in the second quarter of 2018. This was the first quarter-on-quarter decrease since the first quarter of 2015. In the first half of 2018, the GDP had increased, by 0.5% in the second quarter and by 0.4% in the first quarter.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):
2017
2018
1stqtr
2ndqtr
3rdqtr
4thqtr
1stqtr
2ndqtr
3rdqtr
1.1
0.5
0.6
0.5
0.4
0.5
-0.2
Development of foreign trade slows down economic growth
The slight quarter-on-quarter decline in the gross domestic product was mainly due to the development of foreign trade in the third quarter of 2018. According to provisional calculations, exports of goods and services fell by 0.9% on the second quarter of 2018. At the same time, imports were up 1.3%.
As regards domestic demand, there were mixed signals. Gross fixed capital formation in machinery and equipment rose by 0.8%, and in construction even by 0.9%, on the previous quarter. Household final consumption expenditure was down 0.3%, one reason being private households’ reluctance to buy new cars. Together with higher imports, this led to an above-average increase in inventories. Government final consumption expenditure was slightly higher than in the previous quarter (+0.2%).
Gross domestic product increased year on year
Compared to a year earlier, the price-adjusted GDP in the third quarter of 2018 rose by 1.1% on a year earlier (calendar-adjusted: also +1.1%). Following a 2.3% increase in the second quarter (calendar-adjusted: +2.0%), slower economic growth is recorded here, too.
Gross domestic product, price-adjusted, chain-linked (unadjusted figures)Changes on a year earlier (in percent):
2017
2018
1stqtr
2ndqtr
3rdqtr
4thqtr
1stqtr
2ndqtr
3rdqtr
3.4
0.9
2.2
2.2
1.4
2.3
1.1
Decreased labour productivity
The economic performance in the third quarter of 2018 was achieved by 45.0 million persons in employment in the domestic territory, which was an increase of 556,000 persons, or 1.3%, on a year earlier (see press release 437/18 of 13 November 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 increased by 0.2%. The labour volume of the overall economy, which is the total number of hours worked by all persons in employment, rose by 1.4% compared with a year earlier.
Overall labour productivity (price-adjusted gross domestic product per hour worked by persons in employment) was down 0.3% on the previous year, according to provisional calculations. Measured per person in employment, it decreased by 0.2%.
Contributions to year-on-year growth mainly from gross fixed capital formation
In a year-on-year comparison, positive contributions came mainly from gross fixed capital formation in the third quarter of 2018. Gross fixed capital formation in machinery and equipment rose considerably on a year earlier (+3.7%). Gross fixed capital formation in construction was markedly up, too (+3.3%); especially capital formation in dwellings rose on the third quarter of 2017. Also, a marked increase in inventories was observed. Final consumption expenditure was slightly up on a year earlier. Household final consumption expenditure increased by a price adjusted 0.5%, government final consumption expenditure by 0.9%.
According to provisional calculations, imports of goods and services in the third quarter of 2018 rose markedly on the third quarter of 2017 (+3.8%). Exports were up 1.1% in the same period.
Gross value added higher in almost all economic sectors
The overall price-adjusted gross value added in the third quarter of 2018 was up 1.0% on a year earlier. However, the development differed considerably between the individual sectors. The largest increase was recorded for construction (+4.2%), followed by information and communication (+3.1%) and business services (+1.3%). A slight year-on-year decrease (-0.1%) was observed for manufacturing.
Increase in both gross and net wages and salaries
At current prices, both the gross domestic product and the gross national income rose 3.0% year on year. Net national income at factor costs, consisting of compensation of employees and property and entrepreneurial income, increased too (+2.4%), according to first provisional calculations. Gross wages and salaries of employees were up 5.0% and net wages and salaries 5.1% on a year earlier. The disposable income of households rose by 2.9%, while the final consumption expenditure of households at current prices increased by 2.1%. This resulted in a provisional savings ratio of households of 9.0% in the third quarter of 2018.
Results reviewed for first and second quarter of 2018
In addition to calculating first data for the third quarter of 2018, the Federal Statistical Office reviewed and revised, where necessary, the results published previously for the first and second quarter of 2018. The first provisional results are reviewed to incorporate new statistical information. In this way, the best possible results at the relevant publication date are available to data users for analyses and forecasts. As reported in the first release of 14 November 2018, this did not lead to any corrections for the gross domestic product regarding the results published earlier for the first and the second quarter. As is usual for seasonally and calendar-adjusted series, however, modified results may appear in the whole time series from 1991 onwards.
More information
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
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
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
 2.0
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
3rdqtr
858.38
 3.0
116.77
 1.1
115.44
-0.2
 1.1

Use of the gross domestic productUnadjusted figures 

2017
2018
Year
3rdqtr
4thqtr
1stqtr
2ndqtr
3rdqtr
qtr = quarter
At current prices
EUR bn
Consumption expenditure
2,371.051
 596.412
 615.919
 586.668
 606.537
 611.477
Final consumption expenditure of households and NPISHs
1,732.176
 440.092
 443.093
 427.578
 445.270
 449.502
Government final consumption expenditure
 638.875
 156.320
 172.826
 159.090
 161.267
 161.975
Gross capital formation
 658.497
 179.896
 151.732
 178.491
 169.467
 202.243
Gross fixed capital formation (GFCF)
 665.722
 170.858
 173.796
 159.823
 179.565
 181.635
GFCF in machinery and equipment
 215.214
 51.741
 61.221
 51.819
 56.115
 54.011
GFCF in construction
 326.630
 88.219
 79.993
 77.290
 92.194
 95.921
GFCF in other products
 123.878
 30.898
 32.582
 30.714
 31.256
 31.703
Domestic uses
3,029.548
 776.308
 767.651
 765.159
 776.004
 813.720
Exports
1,541.898
 382.865
 396.196
 389.501
 402.024
 393.600
Imports
1,294.106
 325.933
 331.837
 325.680
 335.168
 348.940
Gross domestic product (GDP)
3,277.340
 833.240
 832.010
 828.980
 842.860
 858.380
Price-adjusted, chain-linked
Change on the previous year in %
Consumption expenditure
1.7
1.9
1.2
1.3
1.0
0.6
Final consumption expenditure of households and NPISHs
1.8
2.1
1.1
1.6
1.0
0.5
Government final consumption expenditure
1.6
1.5
1.7
0.6
1.1
0.9
Gross capital formation
3.2
3.1
2.5
2.0
5.5
7.6
Gross fixed capital formation (GFCF)
2.9
2.9
2.8
2.2
3.4
3.0
GFCF in machinery and equipment
3.7
4.1
4.7
4.5
5.0
3.7
GFCF in construction
2.9
3.0
1.8
1.4
3.5
3.3
GFCF in other products
1.3
0.4
1.5
0.4
0.4
0.4
Domestic uses
2.0
2.2
1.5
1.5
1.9
2.2
Exports
4.6
4.9
4.7
2.1
4.3
1.1
Imports
4.8
5.5
3.7
2.6
3.7
3.8
Gross domestic product (GDP)
2.2
2.2
2.2
1.4
2.3
1.1
memorandum item:
GDP per person in employment
0.7
0.7
0.8
-0.1
1.0
-0.2
GDP per hour worked by persons in employment
0.9
0.8
1.5
1.1
-0.1
-0.3
Contributions to growth of price-adjusted GDP in percentage points
Consumption expenditure
1.2
1.4
0.9
0.9
0.7
0.4
Final consumption expenditure of households and NPISHs
0.9
1.1
0.6
0.8
0.5
0.3
Government final consumption expenditure
0.3
0.3
0.3
0.1
0.2
0.2
Gross capital formation
0.6
0.7
0.4
0.4
1.1
1.6
Gross fixed capital formation (GFCF)
0.6
0.6
0.6
0.4
0.7
0.6
GFCF in machinery and equipment
0.2
0.3
0.4
0.3
0.3
0.2
GFCF in construction
0.3
0.3
0.2
0.1
0.4
0.4
GFCF in other products
0.1
0.0
0.1
0.0
0.0
0.0
Changes in inventories and so on
0.1
0.1
-0.1
0.0
0.3
1.0
Domestic uses
1.9
2.0
1.4
1.4
1.8
2.1
Balance of exports and imports (net exports)
0.3
0.1
0.8
0.0
0.6
-1.0

 Use of the gross domestic productSeasonally and calendar-adjusted figures according to Census X-12-ARIMA
  
2017
2018
3rdqtr
4thqtr
1stqtr
2ndqtr
3rdqtr
1 Only seasonally adjusted.qtr = quarter
At current prices
EUR bn
Consumption expenditure
 594.926
 599.954
 603.829
 609.380
 611.236
Final consumption expenditure of households and NPISHs
 434.602
 437.699
 441.542
 444.553
 445.081
Government final consumption expenditure
 160.324
 162.255
 162.287
 164.827
 166.155
Gross capital formation
 166.172
 167.757
 170.807
 177.137
 187.254
Gross fixed capital formation (GFCF)
 167.919
 169.833
 173.467
 175.717
 178.528
GFCF in machinery and equipment
 54.572
 55.102
 56.245
 56.427
 56.872
GFCF in construction
 82.271
 83.387
 85.806
 87.637
 89.776
GFCF in other products
 31.076
 31.344
 31.416
 31.653
 31.880
Domestic uses
 761.098
 767.711
 774.636
 786.517
 798.490
Exports
 387.164
 395.079
 394.756
 399.189
 398.483
Imports
 322.551
 330.270
 331.471
 338.078
 345.765
Gross domestic product (GDP)
 825.711
 832.520
 837.921
 847.628
 851.208
Price-adjusted, chain-linked
Change on the previous quarter in %
Consumption expenditure
0.1
0.3
0.2
0.5
-0.1
Final consumption expenditure of households and NPISHs
0.1
0.2
0.5
0.3
-0.3
Government final consumption expenditure
0.3
0.4
-0.5
0.8
0.2
Gross capital formation
0.7
0.5
1.1
1.6
4.2
Gross fixed capital formation (GFCF)
0.4
0.3
1.4
0.5
0.8
GFCF in machinery and equipment
1.2
0.5
2.1
0.1
0.8
GFCF in construction
-0.1
0.2
1.6
0.9
0.9
GFCF in other products
0.2
0.4
-0.5
0.3
0.2
Domestic uses
0.3
0.3
0.4
0.7
0.8
Exports
1.2
1.7
-0.3
0.8
-0.9
Imports
0.5
1.4
-0.3
1.5
1.3
Gross domestic product (GDP)
0.6
0.5
0.4
0.5
-0.2
memorandum item:
GDP per person in employment
0.2
0.2
-0.1
0.3
-0.5
GDP per hour worked by persons in employment 1
-0.1
0.7
-0.1
-0.6
-0.4
Contributions to growth of price-adjusted GDP in percentage points
Consumption expenditure
0.1
0.2
0.2
0.3
-0.1
Final consumption expenditure of households and NPISHs
0.0
0.1
0.3
0.2
-0.1
Government final consumption expenditure
0.1
0.1
-0.1
0.2
0.0
Gross capital formation
0.1
0.1
0.2
0.3
0.9
Gross fixed capital formation (GFCF)
0.1
0.1
0.3
0.1
0.2
GFCF in machinery and equipment
0.1
0.0
0.1
0.0
0.1
GFCF in construction
0.0
0.0
0.2
0.1
0.1
GFCF in other products
0.0
0.0
0.0
0.0
0.0
Changes in inventories and so on
0.1
0.0
-0.1
0.2
0.7
Domestic uses
0.2
0.3
0.4
0.7
0.8
Balance of exports and imports (net exports)
0.4
0.2
0.0
-0.2
-1.0

Gross value added by economic sector

2017
2018
Year
3rdqtr
4thqtr
1stqtr
2ndqtr
3rdqtr
qtr = quarter
At current prices
EUR bn
Agriculture, forestry and fishing
 25.472
 6.766
 5.782
 5.333
 5.475
 6.240
Industry, excluding construction
 772.523
 194.826
 193.518
 196.933
 201.364
 197.399
including:
Manufacturing
 690.213
 175.381
 172.202
 174.906
 182.038
 178.021
Construction
 144.300
 38.562
 40.417
 32.084
 40.662
 43.686
Trade, transport, accommodation and food services
 478.409
 122.496
 121.945
 116.555
 126.464
 125.827
Information and communication
 137.237
 35.429
 34.264
 36.109
 34.849
 37.025
Financial and insurance activities
 113.337
 28.361
 28.293
 28.136
 28.212
 28.136
Real estate activities
 316.158
 81.026
 77.474
 81.487
 80.860
 82.691
Business services
 319.354
 83.446
 79.991
 82.069
 79.989
 85.745
Public services, education, health
 531.297
 132.356
 139.359
 137.157
 133.797
 137.672
Other services
 116.609
 30.109
 29.329
 29.740
 29.033
 30.762
Gross value added, total
2,954.696
 753.377
 750.372
 745.603
 760.705
 775.183
Price-adjusted, chain-linked
Change on the previous year in %
Agriculture, forestry and fishing
3.0
4.5
3.2
-0.8
-1.2
-2.1
Industry, excluding construction
2.4
2.6
3.5
1.7
3.4
0.1
including:
Manufacturing
2.7
3.0
4.0
1.9
4.0
-0.1
Construction
2.4
1.8
2.3
1.9
3.9
4.2
Trade, transport, accommodation and food services
3.4
3.5
2.8
2.2
2.5
1.2
Information and communication
3.6
3.4
3.4
3.6
3.9
3.1
Financial and insurance activities
0.4
0.4
0.5
0.5
1.3
1.2
Real estate activities
1.1
1.3
1.4
1.0
1.0
0.7
Business services
2.6
2.9
2.3
1.5
2.7
1.3
Public services, education,health
1.4
1.4
0.8
1.2
1.2
0.9
Other services
1.2
1.4
0.4
-0.1
0.9
0.1
Gross value added, total
2.2
2.3
2.3
1.5
2.4
1.0
Distribution of gross national income

2017
2018
Year
3rdqtr
4thqtr
1stqtr
2ndqtr
3rdqtr
qtr = quarter
At current prices
EUR bn
Gross national income
3,346.282
 851.742
 857.632
 850.993
 846.151
 877.615
Net national income (factor costs)
2,456.391
 628.778
 633.350
 621.080
 615.546
 644.157
Compensation of employees
1,668.810
 411.353
 459.514
 407.590
 426.545
 431.219
Property and entrepreneurial income
 787.581
 217.425
 173.836
 213.490
 189.001
 212.938
Gross wages and salaries of employees
1,366.618
 337.421
 377.590
 333.319
 349.234
 354.459
Net wages and salaries of employees
 902.933
 227.741
 249.226
 220.296
 225.344
 239.274
memorandum item:
Disposable income of households
1,869.916
 467.023
 471.711
 481.664
 480.668
 480.656
Savings ratio (in %)
 9.9
 8.3
 8.7
 13.5
 9.8
 9.0
Change on the previous year in %
Gross national income
3.8
4.3
3.8
3.1
4.3
3.0
Net national income (factor costs)
3.9
4.7
3.9
2.9
4.2
2.4
Compensation of employees
4.2
4.3
4.1
4.5
4.6
4.8
Property and entrepreneurial income
3.3
5.4
3.3
0.0
3.4
-2.1
Gross wages and salaries of employees
4.2
4.3
4.0
4.7
4.8
5.0
Net wages and salaries of employees
3.9
4.1
3.7
4.5
4.7
5.1
memorandum item:
Disposable income of households
3.4
3.6
2.9
3.5
3.2
2.9
>>> brief methodological description
For further information:National accounts info team,tel: +49 (0) 611 / 75 26 26,contact form

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