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Press release No.421 / 2011-11-15


Gross domestic product in 3rd quarter of 2011: upswing continues


WIESBADEN – The German economy continues its growth: In the third quarter of 2011, the gross domestic product (GDP) rose 0.5% – upon price, seasonal and calendar adjustment – on the second quarter. In addition, the result for the second quarter of 2011 has been corrected upwards to +0.3%, as reported by the Federal Statistical Office (Destatis). This means that, following the strong growth at the beginning of the year (+1.3% in the first quarter), the upswing of the German economy continued in the course of 2011, with the growth rate slightly increasing in the reference quarter compared with the previous quarter.

In a year-on-year comparison, too, the GDP grew strongly, although not as strongly as in the first half of the year: In the third quarter of 2011, the price-adjusted GDP was up 2.5% on a year earlier (calendar-adjusted: +2.6%).

In a quarter-on-quarter comparison (upon price, seasonal and calendar adjustment), positive contributions were made mainly by domestic uses: The main factor contributing to GDP growth here was the increase in final consumption expenditure of households. Also, capital formation in machinery and equipment was up, whereas capital formation in construction decreased slightly, following a strong growth at the beginning of the year. Foreign trade continued its expansion. However, as the increase in exports of goods and services roughly equalled the increase in imports, the impact of the balance of exports and imports – upon price, seasonal and calendar adjustment – on economic growth in the third quarter of 2011 was hardly measurable.

According to first provisional calculations, the economic performance in the third quarter of 2011 was achieved by about 41.2 million persons in employment in the domestic territory, which was an increase of 495,000 persons or 1.2% on a year earlier.

In the context of the first calculation of data for the third quarter of 2011, the results published so far for the first two quarters of 2011 were revised, too. The rates of change of the price-adjusted GDP in the second quarter were corrected upwards by 0.2 percentage points each, that is, to +3.0% in a year-on-year comparison and to +0.3% in a seasonally and calendar-adjusted quarter-on-quarter comparison.

More detailed results will be released by the Federal Statistical Office on 24 November 2011.

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

>>> brief methodological description
Gross domestic product
Price-adjusted, chain-linked
 Unadjusted figuresFigures according to Census X-12-ARIMA
Seasonally and calendar-adjustedCalendar-adjusted1)Calendar effect
2005 = 100%2)2005 = 100%3)2005 = 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 %.
2009102.70–5.1 102.62–5.1 102.63–5.1 –0.1 
2010106.49 3.7 106.28 3.6 106.28 3.6  0.1 
20091st quarter100.23–6.5 101.78–4.0 100.39–6.7  0.3 
2nd quarter101.14–7.4 102.10 0.3 101.42–6.2 –1.3 
3rd quarter105.05–5.0 102.93 0.8 104.86–5.1  0.1 
4th quarter104.37–1.6 103.68 0.7 103.83–2.3  0.7 
20101st quarter102.82 2.6 104.21 0.5 102.87 2.5  0.1 
2nd quarter105.57 4.4 106.24 1.9 105.48 4.0  0.4 
3rd quarter109.25 4.0 107.08 0.8 109.07 4.0 –0.0 
4th quarter108.32 3.8 107.59 0.5 107.70 3.7  0.0 
2011
 		1st quarter107.97 5.0 109.04 1.3 107.72 4.7  0.3 
2nd quarter108.70 3.0 109.34 0.3 108.53 2.9  0.1 
3rd quarter112.00 2.5 109.89 0.5 111.91 2.6 –0.1 

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 %.
20092,374.50–4.0 2,372.74–4.0 
20102,476.80 4.3 2,471.86 4.2 
20091st quarter573.67–5.7 584.94–3.6 
2nd quarter577.74–6.5 588.97 0.7 
3rd quarter608.81–3.6 596.89 1.3 
4th quarter614.28–0.2 601.94 0.8 
20101st quarter594.78 3.7 605.45 0.6 
2nd quarter607.02 5.1 616.80 1.9 
3rd quarter635.41 4.4 623.05 1.0 
4th quarter639.59 4.1 626.56 0.6 
20111st quarter626.50 5.3 635.64 1.4 
2nd quarter630.45 3.9 640.26 0.7 
3rd quarter657.70 3.5 645.45 0.8 

Gross domestic product
Price-adjusted, chain-linked
 New resultFormer result
Chain index (2005 = 100)Change
in %1)		Chain index (2005 = 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
2009102.62–5.1 102.62–5.1 
2010106.28 3.6 106.28 3.6 
20091st quarter101.78–4.0 101.78–4.0 
2nd quarter102.10 0.3 102.10 0.3 
3rd quarter102.93 0.8 102.93 0.8 
4th quarter103.68 0.7 103.68 0.7  
20101st quarter104.21 0.5 104.21 0.5 
2nd quarter106.24 1.9 106.24 1.9 
3rd quarter107.08 0.8 107.08 0.8 
4th quarter107.59 0.5 107.59 0.5 
20111st quarter109.04 1.3 109.04 1.3 
2nd quarter109.34 0.3 109.17 0.1 
3rd quarter109.89 0.5 XX
 Unadjusted figures
2009102.70–5.1 102.70–5.1 
2010106.49 3.7 106.49 3.7 
20091st quarter100.23–6.5 100.23–6.5 
2nd quarter101.14–7.4 101.14–7.4 
3rd quarter105.05–5.0 105.05–5.0 
4th quarter104.37–1.6 104.37–1.6 
20101st quarter102.82 2.6 102.82 2.6 
2nd quarter105.57 4.4 105.57 4.4 
3rd quarter109.25 4.0 109.25 4.0 
4th quarter108.32 3.8 108.32 3.8 
20111st quarter107.97 5.0 107.97 5.0 
2nd quarter108.70 3.0 108.53 2.8 
3rd quarter112.00 2.5 XX


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Version: 2.25.5 / 20.10.2008