Deutschland Bip-Wachstum

The German economy expanded 0.2% qoq in Q3 2024, rebounding from a 0.3% fall in Q2, and beating forecasts of a 0.1% contraction, preliminary estimates showed. Government and household final consumption in particular, were up. Data for Q2 was revised to show the economy contracted at a sharper 0.3%, compared to previous estimates of a 0.1% decline. Year-on-year, the GDP shrank 0.2%, a sixth consecutive quarter of no growth, following a downwardly revised 0.3% fall in Q2. The German government projects a 0.2% contraction in GDP for 2024, marking the country’s first two-year recession since the early 2000s, following a 0.3% decline in 2023. The economy faces significant headwinds, including elevated energy costs, weak external demand, and a loss of competitiveness in the auto sector. However, the government expects a recovery in 2025, forecasting a 1.1% GDP growth driven by a rebound in private consumption, renewed demand for industrial exports, and a turnaround in investment activity.