Press release No. 323 of 25 August 2020
Gross domestic product. 2ndquarter of 2020
-9.7% on the previous quarter (price, seasonally and calendar-adjusted)
-11.3% on the same quarter a year earlier (price-adjusted)
-11.3% on the same quarter a year earlier (price and calendar-adjusted)
WIESBADEN – The gross domestic product (GDP) fell sharply by 9.7% in the 2nd quarter of 2020 on the 1st quarter of 2020 after adjustment for price, seasonal and calendar variations. According to the Federal Statistical Office (Destatis), the GDP drop in the 2nd quarter of 2020 was not quite as steep as reported in the first release of 30 July 2020 (-10.1%). The slump in the German economy was thus much larger than during the financial and economic crisis of 2008/2009 (-4.7% in the 1st quarter of 2009) and the sharpest decline since quarterly GDP calculations for Germany started in 1970.
| 2018 | 2019 | 2020 | |||||||
|---|---|---|---|---|---|---|---|---|---|
| 1st qtr | 2nd qtr | 3rd qtr | 4th qtr | 1st qtr | 2nd qtr | 3rd qtr | 4th qtr | 1st qtr | 2nd qtr |
| -0.2 | 0.5 | -0.3 | 0.3 | 0.6 | -0.5 | 0.3 | 0.0 | -2.0 | -9.7 |
Massive drop in domestic and foreign demand
As a consequence of the ongoing corona pandemic and the restrictions related with it, household final consumption expenditure fell sharply by 10.9% in the 2nd quarter of 2020 compared with the 1st quarter after price, seasonal and calendar adjustment. Gross fixed capital formation in machinery and equipment even dropped by as much as 19.6%. Gross fixed capital formation in construction also declined markedly (-4.2%) in the 2nd quarter, which was due in particular to the exceptionally strong 1st quarter (+5.1%). Only final consumption expenditure of general government had a stabilising effect; it was 1.5% higher than in the previous quarter and prevented an even larger GDP decrease.
The trade with foreign countries also slumped. In the 2nd quarter of 2020, exports of goods and services dropped by 20.3% on the 1st quarter 2020 after price, seasonal and calendar adjustment. Imports also recorded a double-digit decline of 16.0%. This means that the decreases were even markedly larger than during the financial and economic crisis in the 1st quarter 2009 (exports: -11.0%; imports: -5.9%). In the 1st quarter of 2020, at the beginning of the coronavirus crisis, exports had already dropped by 3.3% and imports by 1.9%.
Gross domestic product slumps also year on year
The German economy shrank also in a year-on-year comparison. GDP was down a price-adjusted 11.3% in the 2nd quarter of 2020 (also calendar-adjusted) on a year earlier. Again, such large decreases had not been observed even during the financial and economic crisis of 2008/2009. The largest decrease on the same quarter of the preceding year had been recorded in the 2nd quarter of 2009 (-7.9%).
| 2018 | 2019 | 2020 | |||||||
|---|---|---|---|---|---|---|---|---|---|
| 1st qtr | 2nd qtr | 3rd qtr | 4th qtr | 1st qtr | 2nd qtr | 3rd qtr | 4th qtr | 1st qtr | 2nd qtr |
| 1.5 | 2.4 | 0.7 | 0.5 | 1.0 | -0.3 | 1.2 | 0.2 | -1.8 | -11.3 |
Domestic and foreign demand significantly down on a year earlier
Domestic demand slumped also year on year. Gross fixed capital formation in machinery and equipment fell sharply by 27.9% after already dropped considerably by 9.5% in the 1st quarter. Household final consumption expenditure recorded a price-adjusted double-digit decline of 13.0% on a year earlier. In contrast, an additional 3.8% in government final consumption expenditure prevented the economy from crashing even more. Gross fixed capital formation in construction, which was 1.4% higher than in the 2nd quarter of 2019, also had a supporting effect year on year.
Foreign trade fell dramatically also compared with a year earlier. Exports of goods and services fell by 22.2% (price-adjusted) in the 2nd quarter of 2020 year on year. Imports did not drop as strongly (-17.3%) over that period.
Gross value added down except for construction
On the production side of the GDP, price-adjusted gross value added was lower in almost all economic sectors in the 2nd quarter of 2020 than in the 2nd quarter of 2019. The largest decline was recorded for manufacturing with a 20.8% drop in gross value added. There had been larger declines only during the financial and economic crisis of 2008/2009 (-25.0% in the 2nd quarter of 2009). In contrast to that crisis, however, this time other economic sectors are affected by massive declines, too. The economic performance of the business services sector was down by 16.0% and that of trade, accommodaion and food services, transport by 12.9%. Only the construction industry showed a year-on-year increase of the price-adjusted gross value added by 1.6% in the 2nd quarter of 2020.
Strongest decline in employment since German reunification
The economic performance in the 2nd quarter of 2020 was achieved by roughly 44.7 million persons in employment whose place of employment was in Germany. This was a decrease of 574,000, or 1.3%, on a year earlier (see press release 312/20 of 18 August 2020). The last decline in the number of persons in employment was recorded during the financial and economic crisis in the 1st quarter of 2010. Hence, the coronavirus crisis started affecting the labour market, too, in the 2nd quarter 2020. It must be noted, however, that short-time work does not affect the employment figures because short-time workers still count as persons in employment.
The dramatic increase of short-time work in the 2nd quarter of 2020 is revealed by the average number of hours worked per person in employment. The latter decreased extraordinarily by 8.8% compared with the previous year, according to first provisional calculations of the Institute for Employment Research of the Federal Employment Agency. The labour volume of the overall economy, which is the total number of hours worked by all persons in employment, declined even more sharply by 10.0% over the same period.
Overall labour productivity (price- adjusted GDP per hour worked by persons in employment) fell 1.5% compared with the same quarter of the previous year, according to provisional calculations. Labour productivity per person in employment slumped by as much as 10.2% compared with the 2nd quarter of 2019. Similarly high decreases in labour productivity were recorded during the financial and economic crisis in 2008/2009.
Household savings ratio nearly doubled
At current prices, the gross domestic product fell by 8.9% and the gross national income by 8.3% in the 2nd quarter of 2020 compared with a year earlier. The decline in the net national income at factor costs was slightly less pronounced (-7.3%). According to first provisional calculations, the compensation of employees was down by just 3.6% year on year, while property and entrepreneurial income fell sharply by 17.6% because of the production restrictions. Gross wages and salaries of employees decreased by 4.8% from the 2nd quarter of 2019, net wages and salaries by 4.3%. When calculated as an average per employee, wages and salaries declined less markedly (-3.9% in gross terms, -3.4% in net terms). Owing to government aids like short-time allowance, the disposable income of households was just 0.8% lower in the 2nd quarter 2020 than a year earlier. Household final consumpadjustedtion expenditure at current prices, however, showed a two-digit decrease of 11.7%. The relatively stable incomes, on the one hand, and consumer reticence, on the other, resulted in a substantial rise in household saving. According to provisional calculations, the savings ratio nearly doubled to 20.1% in the 2nd quarter of 2020 year on year (2nd quarter 2019: 10.2%).
Revision of previous results and methodological notes
Starting with the 2nd quarter of 2020, the Federal Statistical Office released the GDP for the first time as early as 30 days after the end of the quarter, that is, about two weeks earlier than before. The earlier availability of the results, however, requires a higher proportion of estimations. In addition, the greater uncertainties caused by the coronav pandemic may lead to larger revisions than usual. Apart from calculating the detailed results for the 2nd quarter of 2020, the Federal Statistical Office also revised the gross domestic product figures. Taking into account the statistical information that became available after the first release of 30 July 2020, this resulted in an upwards revision of the gross domestic product by 0.4 percentage points.
In addition to recalculating the data for the 2nd quarter 2020, the Federal Statistical Office reviewed national accounts results of earlier periods (from 2015 onwards), as is usual. This resulted in changes of up to 0.4 percentage points of the gross domestic product data published so far. In the case of seasonally and calender-adjusted values as well as of chain indices (due to changing the reference year 2015), there have also been slight changes in the time series from 1991 onwards.
| Unadjusted figures | Figures according to X13 price-adjusted | |||||||
|---|---|---|---|---|---|---|---|---|
| At current prices | Price-adjusted | Seasonally and calendar-adjusted | Calendar- adjusted | |||||
| EUR billion | % 1 | 2015 = 100 | % 1 | 2015 = 100 | % 2 | % 1 3 | ||
| 1 Change on the previous year or the same quarter of the preceding year in %. 2 Change on the previous year or quarter in %. 3 As for years. the calendar-adjusted values equal the seasonally and calendar-adjusted values (except for differences due to rounding). qtr = quarter | ||||||||
| 2015 | 3,026.18 | 3.4 | 100.00 | 1.5 | 99.90 | 1.2 | 1.2 | |
| 2016 | 3,134.74 | 3.6 | 102.23 | 2.2 | 102.03 | 2.1 | 2.1 | |
| 2017 | 3,259.86 | 4.0 | 104.89 | 2.6 | 105.00 | 2.9 | 2.9 | |
| 2018 | 3,356.41 | 3.0 | 106.22 | 1.3 | 106.36 | 1.3 | 1.3 | |
| 2019 | 3,449.05 | 2.8 | 106.81 | 0.6 | 106.99 | 0.6 | 0.6 | |
| 2015 | 1st qtr | 737.21 | 2.9 | 97.99 | 1.0 | 99.03 | -0.5 | 0.9 |
| 2nd qtr | 741.98 | 3.4 | 98.50 | 1.5 | 99.74 | 0.7 | 1.5 | |
| 3rd qtr | 765.67 | 3.4 | 101.05 | 1.5 | 100.17 | 0.4 | 1.4 | |
| 4th qtr | 781.32 | 3.8 | 102.46 | 1.9 | 100.64 | 0.5 | 1.1 | |
| 2016 | 1st qtr | 762.95 | 3.5 | 100.11 | 2.2 | 101.51 | 0.9 | 2.6 |
| 2nd qtr | 779.08 | 5.0 | 102.02 | 3.6 | 101.91 | 0.4 | 2.2 | |
| 3rd qtr | 788.98 | 3.0 | 102.93 | 1.9 | 102.16 | 0.2 | 2.0 | |
| 4th qtr | 803.73 | 2.9 | 103.86 | 1.4 | 102.55 | 0.4 | 1.9 | |
2017 | 1st qtr | 796.94 | 4.5 | 103.68 | 3.6 | 103.81 | 1.2 | 2.3 |
| 2nd qtr | 799.04 | 2.6 | 103.23 | 1.2 | 104.49 | 0.7 | 2.5 | |
| 3rd qtr | 821.89 | 4.2 | 105.68 | 2.7 | 105.41 | 0.9 | 3.1 | |
| 4th qtr | 841.99 | 4.8 | 106.98 | 3.0 | 106.29 | 0.8 | 3.6 | |
| 2018 | 1st qtr | 821.15 | 3.0 | 105.26 | 1.5 | 106.07 | -0.2 | 2.2 |
| 2nd qtr | 831.07 | 4.0 | 105.67 | 2.4 | 106.57 | 0.5 | 2.0 | |
| 3rd qtr | 839.80 | 2.2 | 106.42 | 0.7 | 106.22 | -0.3 | 0.7 | |
| 4th qtr | 864.39 | 2.7 | 107.54 | 0.5 | 106.58 | 0.3 | 0.3 | |
| 2019 | 1st qtr | 845.82 | 3.0 | 106.36 | 1.0 | 107.23 | 0.6 | 1.1 |
| 2nd qtr | 846.94 | 1.9 | 105.36 | -0.3 | 106.69 | -0.5 | 0.1 | |
| 3rd qtr | 870.15 | 3.6 | 107.74 | 1.2 | 107.02 | 0.3 | 0.7 | |
| 4th qtr | 886.14 | 2.5 | 107.79 | 0.2 | 107.00 | 0.0 | 0.4 | |
| 2020 | 1st qtr | 850.76 | 0.6 | 104.43 | -1.8 | 104.84 | -2.0 | -2.2 |
| 2nd qtr | 771.42 | -8.9 | 93.46 | -11.3 | 94.68 | -9.7 | -11.3 | |
| 2019 | 2020 | |||||
|---|---|---|---|---|---|---|
| 1st qtr | 2nd qtr | 3rd qtr | 4 th qtr | 1st qtr | 2nd qtr | |
| At current prices EUR bn | ||||||
| Consumption expenditure | 605.376 | 619.677 | 633.049 | 653.305 | 614.755 | 579.140 |
| Final consumption expenditure of households and NPISHs | 435.266 | 449.325 | 459.460 | 462.820 | 435.341 | 396.567 |
| Government final consumption expenditure | 170.110 | 170.352 | 173.589 | 190.485 | 179.414 | 182.573 |
| Gross capital formation | 185.559 | 178.346 | 190.266 | 183.541 | 183.605 | 159.390 |
| Gross fixed capital formation (GFCF) | 171.165 | 189.183 | 192.392 | 195.246 | 174.872 | 177.086 |
| GFCF in construction | 84.340 | 96.618 | 101.239 | 91.498 | 92.481 | 100.744 |
| GFCF in machinery and equipment | 55.628 | 60.268 | 58.298 | 65.945 | 51.119 | 44.028 |
| GFCF in other products | 31.197 | 32.297 | 32.855 | 37.803 | 31.272 | 32.314 |
| Domestic uses | 790.935 | 798.023 | 823.315 | 836.846 | 798.360 | 738.530 |
| Exports | 405.825 | 399.840 | 405.139 | 406.556 | 394.068 | 309.798 |
| Imports | 350.940 | 350.923 | 358.304 | 357.262 | 341.668 | 276.908 |
| Gross domestic product (GDP) | 845.820 | 846.940 | 870.150 | 886.140 | 850.760 | 771.420 |
| Price-adjusted, change on the same quarter of the preceding year in % | ||||||
| Consumption expenditure | 1.6 | 1.7 | 2.6 | 1.6 | -0.4 | -8.3 |
| Final consumption expenditure of households and NPISHs | 1.3 | 1.7 | 2.2 | 1.0 | -1.6 | -13.0 |
| Government final consumption expenditure | 2.3 | 1.7 | 3.6 | 3.2 | 2.7 | 3.8 |
| Gross capital formation | 4.8 | 1.3 | -4.5 | -4.5 | -3.0 | -8.8 |
| Gross fixed capital formation (GFCF) | 4.7 | 2.1 | 3.2 | 0.4 | -0.3 | -8.3 |
| GFCF in construction | 6.8 | 2.5 | 4.1 | 2.2 | 6.2 | 1.4 |
| GFCF in machinery and equipment | 2.8 | 1.1 | 1.7 | -2.7 | -9.5 | -27.9 |
| GFCF in other products | 2.9 | 2.5 | 2.9 | 2.6 | -1.1 | -1.4 |
| Domestic uses | 2.3 | 1.6 | 0.9 | 0.2 | -1.0 | -8.4 |
| Exports | 1.7 | -1.3 | 2.7 | 0.8 | -3.2 | -22.2 |
| Imports | 4.7 | 2.7 | 2.0 | 0.9 | -1.6 | -17.3 |
| Gross domestic product (GDP) | 1.0 | -0.3 | 1.2 | 0.2 | -1.8 | -11.3 |
| memorandum item: | ||||||
| GDP per person in employment | -0.1 | -1.3 | 0.5 | -0.4 | -2.1 | -10.2 |
| GDP per hour worked by persons in employment | -0.8 | 0.1 | 0.1 | 0.5 | 0.1 | -1.5 |
| Contributions to growth of price-adjusted GDP in % points | ||||||
| Consumption expenditure | 1.1 | 1.2 | 1.9 | 1.2 | -0.3 | -6.1 |
| Final consumption expenditure of households and NPISHs | 0.7 | 0.9 | 1.2 | 0.5 | -0.8 | -6.9 |
| Government final consumption expenditure | 0.5 | 0.3 | 0.7 | 0.7 | 0.5 | 0.8 |
| Gross capital formation | 1.0 | 0.3 | -1.0 | -1.0 | -0.7 | -1.9 |
| Gross fixed capital formation (GFCF) | 0.9 | 0.5 | 0.7 | 0.1 | -0.1 | -1.9 |
| GFCF in construction | 0.6 | 0.3 | 0.5 | 0.2 | 0.6 | 0.2 |
| GFCF in machinery and equipment | 0.2 | 0.1 | 0.1 | -0.2 | -0.6 | -2.0 |
| GFCF in other products | 0.1 | 0.1 | 0.1 | 0.1 | 0.0 | -0.1 |
| Changes in inventories and so on | 0.1 | -0.2 | -1.7 | -1.1 | -0.6 | 0.0 |
| Domestic uses | 2.1 | 1.5 | 0.9 | 0.2 | -0.9 | -7.9 |
| Balance of exports and imports (net exports) | -1.1 | -1.7 | 0.4 | 0.0 | -0.9 | -3.4 |
| 2019 | 2020 | |||||
|---|---|---|---|---|---|---|
| 1st qtr | 2nd qtr | 3rd qtr | 4th qtr | 1st qtr | 2nd qtr | |
| 1 Only seasonally adjusted. qtr = quarter | ||||||
| At current prices EUR bn | ||||||
| Consumption expenditure | 621.000 | 625.766 | 631.622 | 634.858 | 627.666 | 585.692 |
| Final consumption expenditure of households and NPISHs | 448.083 | 451.313 | 453.873 | 455.441 | 445.417 | 398.729 |
| Government final consumption expenditure | 172.917 | 174.453 | 177.749 | 179.417 | 182.249 | 186.963 |
| Gross capital formation | 185.257 | 187.595 | 181.363 | 185.146 | 184.128 | 166.285 |
| Gross fixed capital formation (GFCF) | 186.613 | 187.166 | 188.201 | 188.882 | 188.986 | 174.774 |
| GFCF in construction | 93.123 | 92.982 | 94.007 | 95.146 | 100.839 | 97.025 |
| GFCF in machinery and equipment | 60.656 | 60.930 | 60.414 | 59.452 | 55.213 | 44.475 |
| GFCF in other products | 32.834 | 33.254 | 33.780 | 34.284 | 32.934 | 33.274 |
| Domestic uses | 806.257 | 813.361 | 812.985 | 820.004 | 811.794 | 751.977 |
| Exports | 407.584 | 401.348 | 407.128 | 407.369 | 393.075 | 311.190 |
| Imports | 356.670 | 355.975 | 353.618 | 355.038 | 345.795 | 280.693 |
| Gross domestic product (GDP) | 857.171 | 858.734 | 866.495 | 872.335 | 859.074 | 782.474 |
| Price-adjusted, change on the previous quarter in % | ||||||
| Consumption expenditure | 1.0 | 0.1 | 0.6 | 0.1 | -1.7 | -7.3 |
| Final consumption expenditure of households and NPISHs | 0.9 | 0.0 | 0.3 | 0.1 | -2.5 | -10.9 |
| Government final consumption expenditure | 1.3 | 0.3 | 1.4 | 0.3 | 0.6 | 1.5 |
| Gross capital formation | -2.1 | 0.3 | -3.4 | 0.7 | -0.3 | -6.8 |
| Gross fixed capital formation (GFCF) | 1.5 | -0.4 | -0.1 | -0.2 | -0.5 | -7.9 |
| GFCF in construction | 2.6 | -1.0 | 0.3 | 0.4 | 5.1 | -4.2 |
| GFCF in machinery and equipment | 1.0 | 0.0 | -1.4 | -2.0 | -7.3 | -19.6 |
| GFCF in other products | -0.7 | 0.9 | 1.2 | 1.1 | -4.1 | 0.6 |
| Domestic uses | 0.3 | 0.1 | -0.3 | 0.3 | -1.4 | -7.2 |
| Exports | 1.6 | -1.6 | 1.3 | -0.3 | -3.3 | -20.3 |
| Imports | 0.9 | -0.4 | 0.0 | 0.3 | -1.9 | -16.0 |
| Gross domestic product (GDP) | 0.6 | -0.5 | 0.3 | 0.0 | -2.0 | -9.7 |
| memorandum item: | ||||||
| GDP per person in employment | 0.3 | -0.7 | 0.2 | -0.1 | -2.0 | -8.4 |
| GDP per hour worked by persons in employment 1 | 0.1 | 0.1 | -0.2 | 0.6 | -0.4 | -1.6 |
| Contributions to growth of price-adjusted GDP in % points | ||||||
| Consumption expenditure | 0.7 | 0.0 | 0.4 | 0.1 | -1.2 | -5.4 |
| Final consumption expenditure of households and NPISHs | 0.5 | 0.0 | 0.1 | 0.0 | -1.3 | -5.7 |
| Government final consumption expenditure | 0.3 | 0.1 | 0.3 | 0.1 | 0.1 | 0.3 |
| Gross capital formation | -0.5 | 0.1 | -0.7 | 0.2 | -0.1 | -1.5 |
| Gross fixed capital formation (GFCF) | 0.3 | -0.1 | 0.0 | -0.1 | -0.1 | -1.7 |
| GFCF in construction | 0.3 | -0.1 | 0.0 | 0.1 | 0.6 | -0.5 |
| GFCF in machinery and equipment | 0.1 | 0.0 | -0.1 | -0.1 | -0.5 | -1.3 |
| GFCF in other products | 0.0 | 0.0 | 0.1 | 0.0 | -0.2 | 0.0 |
| Changes in inventories and so on | -0.8 | 0.1 | -0.7 | 0.2 | 0.0 | 0.3 |
| Domestic uses | 0.3 | 0.1 | -0.3 | 0.2 | -1.3 | -6.9 |
| Balance of exports and imports (net exports) | 0.3 | -0.6 | 0.6 | -0.3 | -0.8 | -2.8 |
| 2019 | 2020 | |||||
|---|---|---|---|---|---|---|
| 1st qtr | 2nd qtr | 3rd qtr | 4th qtr | 1st qtr | 2nd qtr | |
| At current prices EUR bn | ||||||
| Agriculture, forestry and fishing | 6.055 | 6.474 | 6.527 | 5.840 | 5.782 | 5.788 |
| Industry, excluding construction | 190.243 | 187.447 | 186.808 | 189.727 | 183.114 | 154.690 |
| including: | ||||||
| Manufacturing | 164.036 | 165.175 | 165.392 | 164.579 | 157.068 | 132.654 |
| Construction | 33.682 | 40.949 | 44.316 | 47.853 | 38.540 | 44.483 |
| Trade, transport, accommodation and food services | 117.426 | 127.370 | 127.638 | 128.398 | 118.047 | 111.671 |
| Information and communication | 38.650 | 35.864 | 39.169 | 39.500 | 39.537 | 35.234 |
| Financial and insurance activities | 29.094 | 29.246 | 29.299 | 29.256 | 29.209 | 28.984 |
| Real estate activities | 81.423 | 80.865 | 82.720 | 82.240 | 83.456 | 82.843 |
| Business services | 90.434 | 86.093 | 92.760 | 92.018 | 90.133 | 73.543 |
| Public services, education, health | 143.122 | 139.739 | 144.193 | 154.504 | 148.863 | 135.244 |
| Other services | 29.616 | 29.076 | 30.379 | 30.144 | 29.692 | 24.367 |
| Gross value added, total | 759.745 | 763.123 | 783.809 | 799.480 | 766.373 | 696.847 |
| Price-adjusted, change on the same quarter of the preceding year in % | ||||||
| Agriculture, forestry and fishing | 3.2 | 3.5 | 4.6 | 3.4 | 0.2 | -1.4 |
| Industry, excluding construction | -1.9 | -5.1 | -2.9 | -4.3 | -6.2 | -19.4 |
| including: | ||||||
| Manufacturing | -2.0 | -5.1 | -2.2 | -4.5 | -6.3 | -20.8 |
| Construction | 6.3 | 2.3 | 4.7 | 1.4 | 6.7 | 1.6 |
| Trade, transport, accommodation and food services | 2.2 | 1.1 | 3.4 | 1.7 | -0.4 | -12.9 |
| Information and communication | 4.4 | 3.7 | 4.2 | 2.8 | 0.3 | -3.1 |
| Financial and insurance activities | 0.3 | 2.4 | 3.6 | 1.9 | 1.0 | -0.2 |
| Real estate activities | 0.7 | 0.7 | 1.2 | 1.5 | 0.5 | -0.6 |
| Business services | 1.6 | 0.3 | 1.0 | 0.7 | -2.0 | -16.0 |
| Public services, education, health | 1.8 | 1.3 | 1.9 | 1.5 | -0.3 | -9.1 |
| Other services | 1.1 | 1.0 | 1.6 | 0.7 | -2.4 | -19.9 |
| Gross value added, total | 1.0 | -0.3 | 1.1 | 0.0 | -1.6 | -11.3 |
| 2019 | 2020 | |||||
|---|---|---|---|---|---|---|
| 1st qtr | 2nd qtr | 3rd qtr | 4th qtr | 1st qtr | 2nd qtr | |
| At current prices EUR bn | ||||||
| Gross national income | 872.247 | 857.459 | 895.133 | 917.979 | 878.057 | 786.194 |
| Net national income (factor costs) | 628.604 | 614.562 | 648.848 | 672.117 | 632.261 | 569.488 |
| Compensation of employees | 432.290 | 451.739 | 457.625 | 504.284 | 444.928 | 435.327 |
| Property and entrepreneurial income | 196.314 | 162.823 | 191.223 | 167.833 | 187.333 | 134.161 |
| Gross wages and salaries of employees | 355.321 | 371.563 | 378.137 | 416.612 | 365.628 | 353.683 |
| Net wages and salaries of employees | 238.983 | 243.735 | 259.149 | 278.439 | 246.325 | 233.299 |
| memorandum item: | ||||||
| Disposable income of households | 494.546 | 486.206 | 491.940 | 497.123 | 507.463 | 482.218 |
| Savings ratio (in %) | 14.4 | 10.2 | 9.2 | 9.7 | 16.5 | 20.1 |
| Price-adjusted, change on the same quarter of the preceding year in % | ||||||
| Gross national income | 3.1 | 2.2 | 3.5 | 2.3 | 0.7 | -8.3 |
| Net national income (factor costs) | 2.4 | 1.4 | 3.1 | 1.7 | 0.6 | -7.3 |
| Compensation of employees | 4.5 | 4.4 | 4.5 | 3.5 | 2.9 | -3.6 |
| Property and entrepreneurial income | -1.9 | -6.1 | 0.1 | -3.4 | -4.6 | -17.6 |
| Gross wages and salaries of employees | 4.4 | 4.4 | 4.5 | 3.3 | 2.9 | -4.8 |
| Net wages and salaries of employees | 5.0 | 4.9 | 5.1 | 3.6 | 3.1 | -4.3 |
| memorandum item: | ||||||
| Disposable income of households | 2.7 | 3.3 | 3.7 | 2.6 | 2.6 | -0.8 |
Crisis Monitor enables comparison between corona crisis and financial/economic crisis
The gross domestic product also forms part of the “Crisis Monitor“ (www.destatis.de/krisenmonitor), by means of which the Federal Statistical Office compares the development of major short-term indicators in the corona crisis and the financial and economic crisis of 2008/2009. The Crisis Monitor complements the „Corona statistics“ (www.destatis.de/corona), which has provided statistical information on the economic and social consequences of the corona pandemic since early April.
More information
More information on the quality of the GDP early estimate and on why the Federal Statistical Office for the first time released the more rapid calculation of the GDP just now during the coronavirus pandemic is given in our podcast at www.destatis.de --> Themen --> Wirtschaft --> Volkswirtschaftliche-Gesamtrechnungen-Inlandsprodukt --> Aktuelles. For an English-language text version please go to www.destatis.de --> Themes --> Economy --> National accounts, domestic product --> Current news.
Destatis website offers comparison between corona crisis and financial/economic crisis
More detailed results have been published in Fachserie 18 “National Accounts“, Series 1.2 “Quarterly results“ and Series 1.3„Seasonally adjusted quarterly results using X13“.
Visualised updated results are also available in our interactive national accounts dashboard (only in german).
The above and other current national accounting results are available in the GENESIS-Online database. (81000)
