Press release No.181 / 2008-05-15

First release of data on the economic performance in the 1^st quarter of 2008

WIESBADEN– The upward trend of the German economy continued in the first quarter of 2008: The gross domestic product (GDP) rose by 1.5% in the first quarter of 2008 on the fourth quarter of 2007 upon price, seasonal and calendar adjustment. Hence the economic recovery seen last year continued at the same pace over the first quarter as a whole. Despite stronger load factors, the German economy proved to be very robust at the beginning of 2008.

As further reported by the Federal Statistical Office (Destatis), the price-adjusted GDP was up 1.8% in the first quarter of 2008 compared with the same quarter a year earlier. When calendar-adjusted, the growth rate was even 2.6% because in the reference quarter there where two working days less compared to the first quarter of 2007.

Economic growth was based on both domestic uses and foreign trade. In particular gross capital formation experienced a rise on the fourth quarter of 2007 and on a year earlier. The same was true, albeit to a lesser extent, of final consumption expenditure. Net exports also contributed to growth, though only in a year-on-year comparison.

The economic performance in the first quarter of 2008 was achieved by 39.8 million persons in employment, which was an increase of 686,000 persons or 1.8% on a year earlier.

In the context of the first calculation of data for the first quarter of 2008, the results published so far for the year and the four quarters of 2007 were revised, too. This did however not have any effect on the GDP change rate.

The Federal Statistical Office will release more detailed results on 27 May 2008.

>>> Brief methodical description

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

E-mail: bip-info@destatis.de

Gross domestic product Price-adjusted, chain-linked
		Unadjusted figures		Figures according to Census X-12-ARIMA
		Unadjusted figures		Seasonally and calendar adjuste		Calendar adjusted		Calendar effect
		2000 = 100	% ¹⁾	2000 = 100	% ²⁾	2000 = 100	% ¹⁾	% ¹⁾
¹⁾ Change on the same quarter of the preceding year in %. ²⁾Change on the previous quarter in %.
2006	1st qtr	102.70	3.4	104.21	0.9	102.05	2.1	1.3
	2nd qtr	104.99	1.6	105.58	1.3	105.27	3.0	–1.3
	3rd qtr	107.25	2.7	106.36	0.7	107.67	3.2	–0.5
	4th qtr	108.42	3.7	107.41	1.0	108.56	4.0	–0.2
2007	1st qtr	106.21	3.4	108.10	0.6	105.87	3.7	–0.3
	2nd qtr	107.63	2.5	108.28	0.2	107.97	2.6	–0.0
	3rd qtr	109.84	2.4	109.00	0.7	110.34	2.5	–0.1
	4th qtr	110.18	1.6	109.29	0.3	110.48	1.8	–0.1
2008	1st qtr	108.16	1.8	110.96	1.5	108.67	2.6	–0.8

Gross domestic product at current prices
		Unadjusted figures		Seasonally and calendar adjusted figures according to Census X-12-ARIMA
		EUR bn.	Change in % ¹⁾	EUR bn.	Change in % ²⁾
¹⁾ Change on the same quarter of the preceding year in %. ²⁾ Change on the previous quarter in %.
2006	1st qtr	558.90	3.9	570.21	0.9
	2nd qtr	571.20	2.3	578.09	1.4
	3rd qtr	590.50	3.4	584.09	1.0
	4th qtr	601.60	4.3	590.87	1.2
2007	1st qtr	586.90	5.0	600.50	1.6
	2nd qtr	597.40	4.6	604.72	0.7
	3rd qtr	616.80	4.5	610.43	0.9
	4th qtr	622.70	3.5	612.68	0.4
2008	1st qtr	605.40	3.2	624.25	1.9

For more details please refer to the German version.

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Press release No.181 / 2008-05-15

First release of data on the economic performance in the 1st quarter of 2008

First release of data on the economic performance in the 1^st quarter of 2008