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Destatis - Statistisches Bundesamt Deutschland : Gross domestic product slightly up in 3rd quarter of 2012

11/15/2012 | 02:27am US/Eastern
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Press release 395 / 2012-11-15:Gross domestic product slightly up in 3rd quarter of 2012

WIESBADEN- The German economy continues its growth at a slightly slower pace: In the third quarter of 2012, the gross domestic product (GDP) rose 0.2% - upon price, seasonal and calendar adjustment - on the previous quarter, as reported by the Federal Statistical Office (Destatis). In the first half of the year, GDP growth had been somewhat larger, that is, +0.5% in the first quarter and +0.3% in the second quarter. 

In a quarter-on-quarter comparison (price, seasonally and calendar-adjusted), positive contributions were made by foreign demand. According to provisional calculations, the increase in exports of goods and services was slightly larger than that of imports. However, domestic contributions were contrasting. Consumption by both private households and government was higher than in the second quarter when adjusted for price, seasonal and calendar variations. Capital formation in construction was up, too. This roughly compensated for the decrease in capital formation in machinery and equipment observed again and for the decline in inventories. 

In a year-on-year comparison, too, economic growth slowed down since the beginning of the year. In the third quarter of 2012, the price-adjusted GDP grew 0.4% on a year earlier. The relatively small increase is due, among other things, to a calendar effect, as was the case in the second quarter. As the reference quarter had one working day less than the same quarter of the previous year, there was a negative effect on GDP growth. Consequently, the GDP increase was larger in calendar-adjusted terms (+0.9%). 

According to first provisional calculations, the economic performance in the third quarter of 2012 was achieved by about 41.7 million persons in employment in the domestic territory, which was an increase of 360,000 people or 0.9% on a year earlier. 

In the context of the first calculation of data for the third quarter of 2012, the national accounts results published so far for the first two quarters of 2012 were also revised and corrected where required. This did not result in any change for price-adjusted GDP.

More detailed results will be released by the Federal Statistical Office on 23 November 2012. 

Gross domestic product
Price-adjusted, chain-linked
Unadjusted figures Figures according to Census X-12-ARIMA
Seasonally and calendar-adjusted Calendar effect
2005 = 100 2005 = 100 2005 = 100

1 For years, the calendar-adjusted values are identical with the seasonally and calendar-adjusted values (except for differences due to rounding).
2 Change on the previous year or the same quarter of the preceding year in %.

3 Change on the previous year or previous quarter in %.
qtr = quarter

2010 106.97  4.2  106.76  4.0  106.76  4.0   0.1 
2011 110.21  3.0  110.07  3.1  110.07  3.1  -0.1 
2010 1st qtr 103.07  2.8  104.49  0.7  103.13  2.7   0.1 
2nd qtr 106.21  5.0  106.80  2.2  106.12  4.6   0.4 
3rd qtr 109.81  4.5  107.55  0.7  109.63  4.5  -0.0 
4th qtr 108.79  4.2  108.20  0.6  108.16  4.2   0.1 
2011 1st qtr 108.42  5.2  109.53  1.2  108.18  4.9   0.3 
2nd qtr 109.49  3.1  110.03  0.5  109.31  3.0   0.1 
3rd qtr 112.64  2.6  110.43  0.4  112.56  2.7  -0.1 
4th qtr 110.28  1.4  110.27 - 0.1  110.21  1.9  -0.5 
2012 1st qtr 110.26  1.7  110.82  0.5  109.51  1.2   0.5 
2nd qtr 110.04  0.5  111.12  0.3  110.39  1.0  -0.5 
3rd qtr 113.08  0.4  111.38  0.2  113.53  0.9  -0.5 
Gross domestic product at current prices
Unadjusted figures Seasonally and calendar-adjusted figures according to
Census X-12-ARIMA
EURbn. EURbn.

1 Change on the previous year or the same quarter of the preceding year in %.

2 Change on the previous year or previous quarter in %.

qtr = quarter

2010 2,496.20  5.1  2,491.25  5.0 
2011 2,592.60  3.9  2,589.26  3.9 
2010 1st qtr 598.33  4.3  608.73  0.9 
2nd qtr 612.66  6.0  621.88  2.2 
3rd qtr 640.71  5.2  627.76  0.9 
4th qtr 644.50  4.9  632.88  0.8 
2011 1st qtr 633.01  5.8  641.73  1.4 
2nd qtr 637.56  4.1  646.75  0.8 
3rd qtr 663.12  3.5  650.28  0.5 
4th qtr 658.91  2.2  650.50  0.0 
2012 1st qtr 651.25  2.9  656.89  1.0 
2nd qtr 648.60  1.7  661.07  0.6 
3rd qtr 674.85  1.8  664.88  0.6 

A long time series with quarterly results on the gross domestic product starting with the first quarter of 1970 is available here.

For further information please contact:
National accounts info team,
tel: +49 611 75 2626,

presse_gdp_info

gdp-info@destatis.de

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