German Economic Growth Posts Slight Decline in Third Quarter

Source: Destatis

German economic growth posted a slight retreat in the third quarter, as it failed to sustain the rebound reported in the three months prior. EWG is down 1.09%.

• The gross domestic product (GDP) rose by 1.8% in the third quarter, down from the 1.9% recorded in the second quarter.
• Destatis attributed the third-quarter growth mainly to higher household final consumption expenditure.
• The calendar-adjusted figure slowed to 2.5% from 9.8% the previous quarter and -3.7% the same quarter last year.
• Price-adjusted growth was recorded at 2.5%, down from 10.3% in the second quarter and the -3.6% in the comparable period in 2020.
• At current prices, GDP is up 6.9%, down from 11.6% in the second quarter but higher than the -2.7% in the third quarter.