Germany’s GDP Surges by 1.7% in the Third Quarter of 2021

Source: Destatis

Germany’s gross domestic product increased by 1.7% in the third quarter, lower than a gain of 2.0% in the previous quarter. DAX is up +0.40%, EURUSD is up +0.24%.

• The third quarter GDP was 2.5% higher than the comparable period of 2020. The GDP had increased by 10.4% in the second quarter from the prior year.
• The uptick in GDP was fueled by robust domestic demand, which rose 6.2% from the previous quarter. 
• Foreign trade fell, with the exports of goods and services declining by 1.0% from the second quarter. Imports fell by a lower 0.6% in the third quarter.
• Germany’s GDP is now 1.1% below the fourth quarter of 2019, before the coronavirus pandemic.