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Germany's GDP grows 0.5% YoY in Q4 2022: Destatis
31 Jan '23
1 min read
Pic: Shutterstock
Germany’s gross domestic product (GDP) in the fourth quarter (Q4) of 2022 was up by a price adjusted 0.5 per cent and a price and calendar adjusted 1.1 per cent from the fourth quarter of 2021, according to the Federal Statistical Office (Destatis). The country’s GDP fell by 0.2 per cent in Q4 2022 as compared to Q3 2022 after adjustment for price, seasonal, and calendar variations.
After the German economy managed to perform well despite difficult conditions in the first three quarters, economic performance slightly decreased in the fourth quarter of 2022. Especially the price, seasonally and calendar adjusted private consumption expenditure, which had supported the German economy in the first three quarters, was lower than in the previous quarter.
The price adjusted GDP rose by 1.8 per cent in 2022. Economic growth was 1.9 per cent after adjustment for price and calendar effects. This means a downward revision of the original result by 0.1 percentage points, as per Destatis.
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