Press release No. 244 of 25 May 2021
Gross domestic product, 1st quarter of 2021
-1.8% on the previous quarter (price-, seasonally and calendar-adjusted)
-3.4% on the same quarter a year earlier (price-adjusted)
-3.1% on the same quarter a year earlier (price- and calendar-adjusted)
WIESBADEN – The gross domestic product (GDP) fell by 1.8% in the first quarter of 2021 on the fourth quarter of 2020 after adjustment for price, seasonal and calendar variations. After the German economy had somewhat recovered in the second half of 2020 (+8.7% in the third quarter and +0.5% in the fourth quarter), the coronavirus crisis caused another decline in economic performance at the beginning of 2021. The Federal Statistical Office (Destatis) reports that the decrease was slightly larger than reported in the first release of 30 April 2021. Compared with the fourth quarter of 2019, the quarter before the corona crisis began, GDP was 5.0% lower.
| 2019 | 2020 | 2021 | ||||||
|---|---|---|---|---|---|---|---|---|
| 1st qtr | 2nd qtr | 3rd qtr | 4th qtr | 1st qtr | 2nd qtr | 3rd qtr | 4th qtr | 1st qtr |
| 0.6 | -0.5 | 0.3 | 0.0 | -2.0 | -9.7 | 8.7 | 0.5 | -1.8 |
Household final consumption expenditure markedly down, increase in imports larger than in exports
The continuing, and in part intensified, restrictions imposed to contain the coronavirus pandemic had a particularly marked impact on household final consumption expenditure at the beginning of the year. In the first quarter of 2021, household final consumption expenditure fell by 5.4% on the fourth quarter of 2020 after adjustment for price, seasonal and calendar variations. Government final consumption expenditure was slightly higher than in the previous quarter (+0.2%). Positive contributions came especially from gross fixed capital formation in construction in the first quarter of 2021 as it rose 1.1% on the fourth quarter of 2020 after price, seasonal and calendar adjustment. Seasonally adjusted gross fixed capital formation in machinery and equipment was slightly down on the previous quarter (-0.2%).
Foreign trade increased at the beginning of the year. However, the increase in imports of goods and services in the first quarter of 2021 (+3.8%, price-, seasonally and calendar-adjusted) was markedly larger than the increase in exports (+1.8%).
Gross value added fell considerably in trade and construction
In the first quarter of 2021, the price-, seasonally and calendar-adjusted gross value added decreased by 0.8% on the fourth quarter of 2020. Diverging trends were shown for the individual economic sectors. Gross value added in manufacturing was slightly up on the fourth quarter of 2020 (+0.4%), whereas gross value added in trade, transport, accommodation and food services was down (-3.2%). The decrease in construction was even larger (-4.9%), one of the reasons being the unusually cold weather at the beginning of the year.
Gross domestic product still markedly down on a year earlier
GDP in the first quarter of 2021 was down a price-adjusted 3.4% compared with the first quarter of 2020. After price and calendar adjustment, the decrease was slightly smaller (-3.1%) as there was one working day less than a year earlier.
| 2019 | 2020 | 2021 | ||||||
|---|---|---|---|---|---|---|---|---|
| 1st qtr | 2nd qtr | 3rd qtr | 4th qtr | 1st qtr | 2nd qtr | 3rd qtr | 4th qtr | 1st qtr |
| 1.0 | -0.3 | 1.2 | 0.2 | -1.8 | -11.3 | -3.7 | -2.3 | -3.4 |
Household final consumption expenditure fell sharply also on a year earlier, trade in goods increased
Domestic demand continued to be far lower than a year earlier. This applies especially to household final consumption expenditure, which was down a price-adjusted 9.1% on the first quarter of 2020. Gross fixed capital formation did not contribute to year-on-year growth either. Fixed capital formation in machinery and equipment decreased by 0.7% and in construction by 1.6% on a year earlier. Only government final consumption expenditure (+2.5%) and foreign demand had an upward effect when compared with a year earlier.
Foreign trade rose considerably on the first quarter of 2020, with exports of goods increasing slightly more than imports of goods. At the same time, foreign trade in services saw two-digit decreases, as was the case in the previous three quarters. On the whole, exports of goods and services fell by 0.6% (price-adjusted) in the first quarter of 2021 on the first quarter of 2020. Total imports declined by 3.0% in the same period.
In nearly all economic sectors, economic performance was down on a year earlier
On the production side of the GDP, price-adjusted gross value added was lower in almost all economic sectors in the first quarter of 2021 compared with a year earlier. The largest decreases (-13.9%) were recorded for other services, which include entertainment and recreation. In trade, transport, accommodation and food services, gross value added fell sharply, too (-8.2%). Especially accommodation and food services recorded an even larger decrease. Following the two-digit slump last summer, the economic situation in manufacturing continued to improve; nevertheless, gross value added in the first quarter of 2021 was still by 1.2% below the level of the first quarter of 2020. Information and communication is the only sector that saw noticeable economic growth on a year earlier (+0.7%).
Total gross value added was down 3.5%.
Number of persons in employment still markedly below pre-crisis level
The economic performance in the first quarter of 2021 was achieved by roughly 44.4 million persons in employment whose place of employment was in Germany. This was a decrease of 707,000, or 1.6%, on a year earlier (see press release 230/21 of 18 May 2021). 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.
However, short-time work had a substantial effect on the average number of hours worked per person in employment. The latter decreased by 4.0% in the first quarter of 2021 compared with the first quarter of 2020, 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, went down even more (-5.5%) over the same period.
Overall labour productivity (price-adjusted GDP per hour worked by persons in employment) rose by 2.3% on the same quarter of the previous year, according to provisional calculations. However, labour productivity per person in employment was down 1.9% compared with the first quarter of 2020.
Stable incomes and consumer reticence lead to increase of savings ratio
At current prices, both the GDP and the gross national income were down 1.1% in the first quarter of 2021 compared with a year earlier. Net national income at factor costs was up 0.9% on the first quarter of 2020. While the compensation of employees was slightly down (-0.4%), property and entrepreneurial income was up 4.0% according to first provisional calculations. Gross wages and salaries per employee recorded a slight increase on average (+0.2%), while average net salaries rose 1.0% because of decreasing social contributions paid by employees. The disposable income of households was by 1.1% higher in the first quarter of 2021 than a year earlier. Household final consumption expenditure at current prices, however, showed a decrease of 7.3%. As in the previous three quarters, the relatively stable incomes, on the one hand, and consumer reticence, on the other, resulted in a substantial rise in household saving during the corona crisis. According to provisional calculations, the savings ratio was 23.2% in the first quarter of 2021.
International and European comparison
Trends were diverging within Europe. In the first quarter of 2021, the price-, seasonally and calendar-adjusted GDP declined for example in Spain (-0.5%) and Italy (-0.4%) on the fourth quarter of 2020, while a slight increase was seen in France (+0.4%). According to provisional calculations, the Statistical Office of the European Union (Eurostat) reported a GDP decline of 0.4% on the previous quarter for the European Union (EU) as a whole, which was markedly smaller than for Germany (-1.8%). The United States recorded a substantial increase in their gross domestic product (+1.6%, converted figure) at the beginning of the year, compared with the fourth quarter of 2020.
When compared with a year earlier, too, an increase in GDP (+0.4%, converted figure) was reported for the United States. The French economy recorded a considerable increase on the first quarter of 2020 (+1.5%), whereas most EU Member States reported marked decreases. Spain recorded the largest year-on-year decline (-4.3%) of all the Member States which have data available as yet for the first quarter of 2021. In Italy, the decline (-1.4%) was smaller than in Germany (-3.1%). For the whole EU, Eurostat released a preliminary result of -1.7% on the same quarter of the previous year.
| USA | Euro area | EU-27 | France | Italy | Spain | Germany | |
|---|---|---|---|---|---|---|---|
| Previous quarter: change on the 4th quarter of 2020; Same quarter of the previous year: change on the 1st quarter of 2020. | |||||||
| Previous quarter | 1.6 | -0.6 | -0.4 | 0.4 | -0.4 | -0.5 | -1,8 |
| Same quarter of the previous year | 0.4 | -1.8 | -1.7 | 1.5 | -1.4 | -4.3 | -3,1 |
For a detailed comparison of the EU Member States’ growth rates please refer to our web page “Europe in figures”.
Revision of previous results and methodological notes
The greater uncertainties caused by the corona pandemic may lead to larger revisions than usual. This applies in particular to the seasonally and calendar-adjusted quarterly data. In addition to the calculations for the last four years, the models and parameters of seasonal and calendar adjustment will be adjusted as part of the coming summer calculations, which is done at regular intervals.
In addition to calculating data for the first quarter of 2021, the Federal Statistical Office also reviewed the results for all four quarters and the year of 2020 and included new statistical information in the calculation. Compared with the first release of 30 April 2021, minor changes of the results published so far have become necessary only in the current first quarter of 2021 for the gross domestic product. Detailed data on the recalculations are shown in the table “Comparison between old and new figures” in this press release.
| 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 | ||||||||
| 2019 | 3,449.05 | 2.8 | 106.81 | 0.6 | 106.99 | 0.6 | 0.6 | |
| 2020 | 3,336.18 | -3.3 | 101.72 | -4.8 | 101.50 | -5.1 | -5.1 | |
| 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 | 851.06 | 0.6 | 104.44 | -1.8 | 104.87 | -2.0 | -2.2 |
| 2nd qtr | 768.87 | -9.2 | 93.46 | -11.3 | 94.70 | -9.7 | -11.3 | |
| 3rd qtr | 843.87 | -3.0 | 103.72 | -3.7 | 102.94 | 8.7 | -3.8 | |
| 4th qtr | 872.38 | -1.6 | 105.27 | -2.3 | 103.49 | 0.5 | -3.3 | |
| 2021 | 1st qtr | 841.31 | -1.1 | 100.88 | -3.4 | 101.62 | -1.8 | -3.1 |
| New result | Previous result | Difference | ||||
|---|---|---|---|---|---|---|---|
| Figures adjusted for seasonal and calendar effects using X13 1 | Unadjusted figures | Figures adjusted for seasonal and calendar effects using X13 1 | Unadjusted figures | Figures adjusted for seasonal and calendar effects using X13 1 | Unadjusted figures | ||
| Change, percent 2 | Percentage points | ||||||
1 calendar-adjusted figures for annual data. 2 Seasonally and calendar-adjusted figures: change on the previous year or the previous quarter Q = quarter | |||||||
| 2020 | -5.1 | -4.8 | -5.1 | -4.8 | 0.0 | 0.0 | |
2020
| Q1 | -2.0 | -1.8 | -2.0 | -1.8 | 0.0 | 0.0 |
| Q2 | -9.7 | -11.3 | -9.7 | -11.3 | 0.0 | 0.0 | |
| Q3 | 8.7 | -3.7 | 8.7 | -3.7 | 0.0 | 0.0 | |
| Q4 | 0.5 | -2.3 | 0.5 | -2.3 | 0.0 | 0.0 | |
| 2021 | Q1 | -1.8 | -3.4 | -1.7 | -3.3 | -0.1 | -0.1 |
| 2020 | 2021 | ||||
|---|---|---|---|---|---|
| 1st qtr | 2nd qtr | 3rd qtr | 4th qtr | 1st qtr | |
| At current prices EUR bn. | |||||
| Consumption expenditure | 616.935 | 578.957 | 628.129 | 641.955 | 596.750 |
| Final consumption expenditure of households and NPISHs | 437.114 | 395.093 | 441.537 | 437.849 | 405.367 |
| Government final consumption expenditure | 179.821 | 183.864 | 186.592 | 204.106 | 191.383 |
| Gross capital formation | 184.647 | 157.098 | 164.774 | 170.216 | 185.192 |
| Gross fixed capital formation (GFCF) | 174.270 | 178.874 | 187.131 | 198.172 | 174.814 |
| GFCF in construction | 91.688 | 99.887 | 100.906 | 96.308 | 91.873 |
| GFCF in machinery and equipment | 51.296 | 46.675 | 53.156 | 63.931 | 51.455 |
| GFCF in other products | 31.286 | 32.312 | 33.069 | 37.933 | 31.486 |
| Domestic uses | 801.582 | 736.055 | 792.903 | 812.171 | 781.942 |
| Exports | 394.139 | 309.775 | 365.081 | 391.126 | 395.498 |
| Imports | 344.661 | 276.960 | 314.114 | 330.917 | 336.130 |
| Gross domestic product (GDP) | 851.060 | 768.870 | 843.870 | 872.380 | 841.310 |
| Price-adjusted, Change on the previous year in % | |||||
| Consumption expenditure | -0.1 | -8.4 | -1.5 | -3.0 | -5.6 |
| Final consumption expenditure of households and NPISHs | -1.3 | -13.3 | -3.7 | -5.5 | -9.1 |
| Government final consumption expenditure | 2.7 | 4.4 | 4.2 | 3.5 | 2.5 |
| Gross capital formation | -2.3 | -8.9 | -11.5 | -4.9 | -1.0 |
| Gross fixed capital formation (GFCF) | -0.6 | -7.4 | -3.5 | 0.6 | -1.1 |
| GFCF in construction | 5.3 | 0.6 | -0.8 | 4.9 | -1.6 |
| GFCF in machinery and equipment | -9.2 | -23.6 | -10.0 | -4.1 | -0.7 |
| GFCF in other products | -1.1 | -1.3 | -0.7 | -1.1 | -0.7 |
| Domestic uses | -0.6 | -8.5 | -3.8 | -3.4 | -4.6 |
| Exports | -3.2 | -22.2 | -9.2 | -3.1 | -0.6 |
| Imports | -0.8 | -17.4 | -10.0 | -5.6 | -3.0 |
| Gross domestic product (GDP) | -1.8 | -11.3 | -3.7 | -2.3 | -3.4 |
| memorandum item: | |||||
| GDP per person in employment | -2.1 | -10.1 | -2.3 | -0.9 | -1.9 |
| GDP per hour worked by persons in employment | 0.0 | -2.0 | 0.5 | 1.6 | 2.3 |
| Contributions to growth of price-adjusted GDP--gross domestic product in % points | |||||
| Consumption expenditure | -0.1 | -6.1 | -1.1 | -2.2 | -4.1 |
| Final consumption expenditure of households and NPISHs | -0.7 | -7.0 | -1.9 | -2.9 | -4.6 |
| Government final consumption expenditure | 0.6 | 0.9 | 0.9 | 0.7 | 0.6 |
| Gross capital formation | -0.5 | -1.9 | -2.5 | -1.0 | -0.2 |
| Gross fixed capital formation (GFCF) | -0.1 | -1.7 | -0.8 | 0.1 | -0.2 |
| GFCF in construction | 0.5 | 0.1 | -0.1 | 0.5 | -0.2 |
| GFCF in machinery and equipment | -0.6 | -1.7 | -0.7 | -0.3 | 0.0 |
| GFCF in other products | 0.0 | -0.1 | 0.0 | -0.1 | 0.0 |
| Changes in inventories and so on | -0.4 | -0.2 | -1.8 | -1.2 | 0.0 |
| Domestic uses | -0.6 | -8.0 | -3.6 | -3.2 | -4.3 |
| Balance of exports and imports (net exports) | -1.2 | -3.3 | -0.1 | 0.9 | 0.9 |
| 2020 | 2021 | ||||
|---|---|---|---|---|---|
| 1st qtr | 2nd qtr | 3rd qtr | 4th qtr | 1st qtr | |
| 1 Only seasonally adjusted. qtr = quarter | |||||
| At current prices EUR bn. | |||||
| Consumption expenditure | 630.640 | 585.138 | 626.256 | 621.786 | 610.653 |
| Final consumption expenditure of households and NPISHs | 447.096 | 397.163 | 436.029 | 429.150 | 415.311 |
| Government final consumption expenditure | 183.544 | 187.975 | 190.227 | 192.636 | 195.342 |
| Gross capital formation | 184.390 | 164.194 | 157.715 | 167.697 | 186.492 |
| Gross fixed capital formation (GFCF) | 188.735 | 176.782 | 182.215 | 187.582 | 190.485 |
| GFCF in construction | 99.998 | 96.122 | 93.419 | 97.526 | 100.906 |
| GFCF in machinery and equipment | 55.472 | 47.201 | 54.934 | 56.043 | 56.019 |
| GFCF in other products | 33.265 | 33.459 | 33.862 | 34.013 | 33.560 |
| Domestic uses | 815.030 | 749.332 | 783.971 | 789.483 | 797.145 |
| Exports | 392.920 | 310.978 | 365.698 | 383.209 | 396.017 |
| Imports | 348.582 | 280.411 | 310.077 | 322.771 | 340.716 |
| Gross domestic product (GDP) | 859.368 | 779.899 | 839.592 | 849.921 | 852.446 |
| Price-adjusted, change on the previous quarter in % | |||||
| Consumption expenditure | -1.3 | -7.8 | 8.0 | -1.5 | -3.6 |
| Final consumption expenditure of households and NPISHs | -2.2 | -11.5 | 11.2 | -2.3 | -5.4 |
| Government final consumption expenditure | 1.1 | 1.3 | 1.0 | 0.1 | 0.2 |
| Gross capital formation | 0.1 | -7.1 | -4.8 | 5.1 | 7.5 |
| Gross fixed capital formation (GFCF) | -0.4 | -6.7 | 3.7 | 2.5 | 0.3 |
| GFCF in construction | 4.3 | -4.3 | -1.3 | 3.7 | 1.1 |
| GFCF in machinery and equipment | -6.8 | -15.1 | 15.9 | 1.9 | -0.2 |
| GFCF in other products | -2.5 | 0.2 | 0.9 | 0.1 | -1.6 |
| Domestic uses | -1.0 | -7.6 | 5.1 | -0.2 | -1.3 |
| Exports | -3.3 | -20.4 | 17.9 | 4.4 | 1.8 |
| Imports | -1.1 | -16.9 | 9.2 | 3.3 | 3.8 |
| Gross domestic product (GDP) | -2.0 | -9.7 | 8.7 | 0.5 | -1.8 |
| memorandum item: | |||||
| GDP per person in employment | -2.0 | -8.4 | 8.9 | 0.4 | -1.7 |
| GDP per hour worked by persons in employment 1 | -0.6 | -2.1 | 2.7 | 1.6 | 0.1 |
| Contributions to growth of price-adjusted GDP in % points | |||||
| Consumption expenditure | -0.9 | -5.7 | 6.0 | -1.2 | -2.7 |
| Final consumption expenditure of households and NPISHs | -1.2 | -6.0 | 5.8 | -1.2 | -2.7 |
| Government final consumption expenditure | 0.2 | 0.3 | 0.2 | 0.0 | 0.0 |
| Gross capital formation | 0.0 | -1.5 | -1.1 | 1.0 | 1.5 |
| Gross fixed capital formation (GFCF) | -0.1 | -1.5 | 0.9 | 0.5 | 0.1 |
| GFCF in construction | 0.5 | -0.5 | -0.2 | 0.4 | 0.1 |
| GFCF in machinery and equipment | -0.5 | -1.0 | 1.0 | 0.1 | 0.0 |
| GFCF in other products | -0.1 | 0.0 | 0.0 | 0.0 | -0.1 |
| Changes in inventories and so on | 0.1 | -0.1 | -1.9 | 0.5 | 1.4 |
| Domestic uses | -0.9 | -7.3 | 4.9 | -0.2 | -1.2 |
| Balance of exports and imports (net exports) | -1.1 | -2.4 | 3.8 | 0.7 | -0.6 |
| 2020 | 2021 | ||||
|---|---|---|---|---|---|
| 1st qtr | 2nd qtr | 3rd qtr | 4th qtr | 1st qtr | |
| At current prices EUR bn. | |||||
| Agriculture, forestry and fishing | 5.990 | 6.074 | 5.576 | 5.252 | 5.581 |
| Industry, excluding construction | 183.701 | 150.112 | 170.657 | 186.307 | 185.062 |
| including: | |||||
| Manufacturing | 157.589 | 128.685 | 148.148 | 160.028 | 158.261 |
| Construction | 38.304 | 44.463 | 46.390 | 55.014 | 39.337 |
| Trade, transport, accommodation and food services | 118.247 | 109.384 | 125.176 | 124.024 | 112.450 |
| Information and communication | 39.487 | 35.330 | 40.001 | 40.638 | 41.391 |
| Financial and insurance activities | 29.308 | 29.104 | 29.259 | 29.247 | 29.270 |
| Real estate activities | 83.444 | 81.349 | 84.729 | 84.417 | 87.592 |
| Business services | 90.205 | 76.152 | 85.899 | 87.117 | 88.539 |
| Public services, education, health | 149.058 | 136.365 | 149.536 | 156.800 | 150.524 |
| Other services | 29.658 | 23.894 | 29.316 | 26.302 | 26.589 |
| Gross value added, total | 767.402 | 692.227 | 766.539 | 795.118 | 766.335 |
| Price-adjusted, Change on the previous year in % | |||||
| Agriculture, forestry and fishing | 3.9 | 2.9 | 3.0 | 3.0 | -2.8 |
| Industry, excluding construction | -5.7 | -21.3 | -9.6 | -1.8 | -1.2 |
| including: | |||||
| Manufacturing | -5.9 | -22.7 | -10.6 | -1.8 | -1.2 |
| Construction | 6.1 | 2.0 | -1.7 | 8.8 | -3.6 |
| Trade, transport, accommodation and food services | -0.1 | -14.2 | -3.1 | -3.8 | -8.2 |
| Information and communication | 0.3 | -3.4 | -0.7 | 0.4 | 0.7 |
| Financial and insurance activities | 1.1 | -0.5 | -0.7 | -1.4 | -0.4 |
| Real estate activities | 0.6 | -1.7 | -0.5 | 0.0 | 0.2 |
| Business services | -1.7 | -12.6 | -8.7 | -7.1 | -5.7 |
| Public services, education, health | -0.6 | -8.2 | 0.1 | -3.7 | -3.0 |
| Other services | -2.4 | -20.3 | -6.0 | -17.1 | -13.9 |
| Gross value added, total | -1.5 | -11.5 | -4.2 | -2.7 | -3.5 |
| 2020 | 2021 | ||||
|---|---|---|---|---|---|
| 1st qtr | 2nd qtr | 3rd qtr | 4th qtr | 1st qtr | |
At current prices EUR bn | |||||
| Gross national income | 878.349 | 781.922 | 867.545 | 903.344 | 868.268 |
| Net national income (factor costs) | 634.136 | 560.428 | 633.322 | 673.218 | 640.020 |
| Compensation of employees | 445.088 | 437.103 | 455.196 | 506.182 | 443.316 |
| Property and entrepreneurial income | 189.048 | 123.325 | 178.126 | 167.036 | 196.704 |
| Gross wages and salaries of employees | 365.633 | 355.042 | 374.233 | 416.619 | 361.729 |
| Net wages and salaries of employees | 245.776 | 234.198 | 258.481 | 281.045 | 245.014 |
| memorandum item: | |||||
| Disposable income of households | 508.079 | 479.521 | 494.345 | 501.996 | 513.616 |
| Savings ratio (in %) | 16.3 | 20.0 | 13.2 | 15.4 | 23.2 |
| Change on the previous year in % | |||||
| Gross national income | 0.7 | -8.8 | -3.1 | -1.6 | -1.1 |
| Net national income (factor costs) | 0.9 | -8.8 | -2.4 | 0.2 | 0.9 |
| Compensation of employees | 3.0 | -3.2 | -0.5 | 0.4 | -0.4 |
| Property and entrepreneurial income | -3.7 | -24.3 | -6.8 | -0.5 | 4.0 |
| Gross wages and salaries of employees | 2.9 | -4.4 | -1.0 | 0.0 | -1.1 |
| Net wages and salaries of employees | 2.8 | -3.9 | -0.3 | 0.9 | -0.3 |
| memorandum item: | |||||
| Disposable income of households | 2.7 | -1.4 | 0.5 | 1.0 | 1.1 |
Visualised national accounts
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 webpage (www.destatis.de/corona), which provides statistical information on the economic and social consequences of the coronavirus pandemic. Visualised updated results are also available in our interactive national accounts dashboard (only in german).
More information
More information on the quality of the GDP early estimate and on why the Federal Statistical Office has started to release the more rapid calculation of the GDP as of the second quarter of 2020 just in times of 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.
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“. The above and other publications are provided at www.destatis.de --> Themes --> Economy --> National accounts, domestic product --> Publications.
A long time series containing quarterly results of the gross domestic product since the first quarter of 1970 is available at www.destatis.de --> Topics: National accounts --> Domestic product --> Tables.
The above and other current national accounting results are available in the GENESIS-Online database. (81000)
