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Press release No.050 / 2010-02-12


Gross domestic product in 4th quarter of 2009 stagnant compared with previous quarter


WIESBADEN – The recovery of the German economy lost momentum at the end of 2009: As reported by the Federal Statistical Office (Destatis), the gross domestic product (GDP) in the fourth quarter of 2009 stagnated at previous quarter’s level (+0.0%) upon price, seasonal and calendar adjustment. Hence the slight upward trend of the economy observed in the second (+0.4%) and third quarter of 2009 (+0.7%) did not continue.
 
When compared with a year earlier, the economic performance decreased, as it did in all quarters of 2009: The price-adjusted GDP was down by 1.7% on the fourth quarter of 2008. Upon calendar adjustment, the decrease was even larger (–2.4%) because the number of working days available in the reference quarter was by 2.1 days higher than a year earlier. However, the decline was markedly smaller than in the third quarter of 2009 (–4.7% on the same quarter of the previous year, calendar-adjusted –4.8%).
 
In a quarter-on-quarter comparison and adjusted for price, seasonal and calendar variations, the only positive contribution was made by foreign trade: While exports grew again, imports decreased. Final consumption expenditure and capital formation were down and, consequently, had a slow-down effect on economic growth.
 
The carry-over effect of 2009 is 0.5% This is the growth rate which would be obtained for 2010 if the seasonally and calendar-adjusted GDP in 2010 stagnated at the level of the fourth quarter of 2009. In other words, it is the part of the current year’s economic growth rate that is explained only by the growth trend of the past year.
 
The economic performance in the fourth quarter of 2009 was achieved by 40.6 million persons in employment, which was a decrease of 156,000 persons or 0.4% on a year earlier.
 
In addition to the first calculation of data for the fourth quarter of 2009, the GDP results published so far for the first three quarters of 2009 and for the year of 2009 were revised at the same time and corrected where required. This did not have any effect on the quarterly rates of change of the price-adjusted GDP.
 
The Federal Statistical Office will release more detailed results on 24 February 2010.

A long time series with quarterly results on the gross domestic product since the first quarter of 1970 is available at the Internet.
 
Gross domestic product
Price-adjusted, chain-linked
 Unadjusted figuresFigures according to Census X-12-ARIMA
Seasonally and calendar adjustedCalendar adjusted 1)Calendar effect
2000 = 100% 2)2000 = 100% 3)2000 = 100% 2)% 2)
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 quarter in %.
2008110.26 1.3 110.10 1.0 110.10 1.0  0.3 
2009 104.77–5.0 104.68–4.9 104.68–4.9 –0.1 
20081st quarter109.00 2.1 111.42 1.6 109.54 2.9 –0.9 
2nd quarter111.61 3.4 110.79–0.6 110.48 2.0  1.4 
3rd quarter111.83 1.4 110.44–0.3 111.67 0.8  0.5 
4th quarter108.58–1.7 107.74–2.4 108.71–1.8  0.1 
20091st quarter102.01–6.4 103.95–3.5 102.22–6.7  0.3 
2nd quarter103.79–7.0 104.41 0.4 104.10–5.8 –1.3 
3rd quarter106.52–4.7 105.17 0.7 106.30–4.8  0.1 
4th quarter106.77–1.7 105.18 0.0 106.09–2.4  0.8 

 
Gross domestic product at current prices
 Unadjusted figuresSeasonally and calendar adjusted figures according to
Census X-12-ARIMA
Euro billionChange in % 1)Euro billionChange in % 2)
1) Change on the previous year or the same quarter of the preceding year in %.
2) Change on the previous year or quarter in %.
20082,495.80 2.8 2,492.34 2.5 
20092,407.20–3.5 2,404.92–3.5 
20081st quarter609.70 3.4 626.40 2.1 
2nd quarter625.60 4.8 626.26–0.0 
3rd quarter634.40 2.8 625.26–0.2 
4th quarter626.10 0.2 614.42–1.7 
20091st quarter579.50–5.0 593.56–3.4 
2nd quarter589.60–5.8 598.27 0.8 
3rd quarter616.00–2.9 606.99 1.5 
4th quarter622.10–0.6 606.10–0.1 

 
Gross domestic product
Price-adjusted, chain-linked
 New resultFormer result
Chain index (2000 = 100)Change
in % 1)		Chain index (2000 = 100)Change
in % 1)
1) Seasonally and calendar adjusted figures: Change on the previous year or quarter in %; Unadjusted figures: Change on the previous year or the same quarter of the preceding year in %.
Seasonally and calendar adjusted figures according to Census X-12-ARIMA
2008110.10 1.0 110.10 1.0 
2009104.68–4.9 104.65–5.0 
20081st quarter111.42 1.6 111.42 1.6 
2nd quarter110.79–0.6 110.79–0.6 
3rd quarter110.44–0.3 110.44–0.3 
4th quarter107.74–2.4 107.74–2.4 
20091st quarter103.95–3.5 103.93–3.5 
2nd quarter104.41 0.4 104.39 0.4 
3rd quarter105.17 0.7 105.15 0.7 
4th quarter105.18 0.0 XX
Unadjusted figures
2008110.26 1.3 110.26 1.3 
2009104.77–5.0 104.75–5.0 
20081st quarter109.00 2.1 109.00 2.1 
2nd quarter111.61 3.4 111.61 3.4 
3rd quarter111.83 1.4 111.83 1.4 
4th quarter108.58–1.7 108.58–1.7 
20091st quarter102.01–6.4 102.01–6.4 
2nd quarter103.79–7.0 103.79–7.0 
3rd quarter106.52–4.7 106.52–4.7 
4th quarter106.77–1.7 XX


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Version: 2.25.5 / 20.10.2008