Press release No. 182 of 23 May 2025
Gross domestic product (GDP), 1st quarter of 2025
+0.4% on the previous quarter (price, seasonally and calendar adjusted)
-0.2% on the same quarter a year earlier (price adjusted)
0.0% on the same quarter a year earlier (price and calendar adjusted)
WIESBADEN – The gross domestic product (GDP) rose by 0.4% in the 1st quarter of 2025 compared with the 4th quarter of 2024 after adjustment for price, seasonal and calendar variations. The Federal Statistical Office (Destatis) also reports that economic growth was therefore 0.2 percentage points higher than communicated in the first release of 30 April 2025. "Growth was slightly higher than predicted in the first estimate due to the surprisingly good economic development seen in March," says Ruth Brand, President of the Federal Statistical Office. "In particular, output in manufacturing and exports registered stronger growth than initially assumed," Brand added. The last time GDP growth was higher than the level registered in the 1st quarter of 2025 was in the 3rd quarter of 2022 (+0.6% on the 2nd quarter of 2022).
| 2023 | 2024 | 2025 | ||||||
|---|---|---|---|---|---|---|---|---|
| 1st qtr | 2nd qtr | 3rd qtr | 4th qtr | 1st qtr | 2nd qtr | 3rd qtr | 4th qtr | 1st qtr |
| 0.1 | -0.2 | 0.2 | -0.4 | 0.2 | -0.3 | 0.1 | -0.2 | 0.4 |
Substantial increase in exports, household consumption up from previous quarter
Foreign trade increased substantially in the 1st quarter of 2025 on a price, calendar and seasonally adjusted basis. Total exports of goods and services rose by 3.2% compared with a subdued 4th quarter of 2024. In particular, significant growth was recorded for exports of pharmaceutical products and of motor vehicles, trailers and semi-trailers – both significant export goods for the US market. Anticipatory effects amid concerns over a brewing trade war with the US are therefore likely to have contributed to the positive development. Imports also rose at the start of the year, but at +1.1% the growth in imports was weaker than that in exports.
Household final consumption expenditure in the 1st quarter of 2025 saw stronger growth than in the preceding quarters, rising 0.5% on the 4th quarter of 2024 after price, seasonal and calendar adjustment. By contrast, government final consumption expenditure declined by 0.3%. This was most likely due to the interim management of the budget of the Federation and of some Länder, which resulted, in particular, in a reduction in non-personnel expenditure by the government. Overall, final consumption expenditure rose by 0.2% compared with the previous quarter.
At the same time, investment was up from the 4th quarter of 2024: after adjustment for price, seasonal and calendar effects, fixed capital formation in both construction (+0.5%) and in machinery and equipment (+0.7%) was higher than in the previous quarter, representing the second consecutive increase in both cases. Overall, gross fixed capital formation at the start of the year was up 0.9%.
Gross value added up in most sectors
After registering a decline for four consecutive quarters, gross value added on the whole was up 0.6% in the 1st quarter of 2025 compared with the 4th quarter of 2024, following adjustment for price, seasonal and calendar variations. Economic performance was up in both the construction industry (+0.9%) and manufacturing (+1.0%), following declines in the previous quarters. Within industry, quarter-on-quarter growth in production was registered, in particular, for the chemical industry, the manufacture of machinery and equipment, and the automotive industry. By contrast, the manufacture of fabricated metal products decreased quarter on quarter. Developments within the service sector were mixed: A marked increase in value added was registered in information and communication (+1.7%) and in trade, transport, accommodation and food services (+1.1%). While the economic performance of business services remained stagnant (0.0%) compared with the previous quarter, it declined in the case of financial and insurance activities (-0.8%), other services (-0.3%) and in the branch of public services, education, health (-0.2%).
Gross domestic product down year on year
GDP in the 1st quarter of 2025 was down a price adjusted 0.2% compared with the 1st quarter of 2024. After adjustment for price and calendar effects, it stagnated compared with the same quarter of the previous year (0.0%).
| 2023 | 2024 | 2025 | ||||||
|---|---|---|---|---|---|---|---|---|
| 1st qtr | 2nd qtr | 3rd qtr | 4th qtr | 1st qtr | 2nd qtr | 3rd qtr | 4th qtr | 1st qtr |
| 0.6 | -0.4 | -0.7 | -0.4 | -0.8 | 0.1 | 0.1 | -0.4 | -0.2 |
Year on year: investments and exports down, final consumption expenditure up
Investments fell by 1.0 % in the 1st quarter of 2025 compared with the same quarter a year earlier, after adjustment for price variations. The year-on-year decline in the volume of investments, which has been observed for two years, therefore continued. Gross fixed capital formation in machinery and equipment declined by 3.8% from the 1st quarter of 2024. Gross fixed capital formation in construction was also down in the 1st quarter of 2025 compared with the same period of the previous year, but the decline was less pronounced (-1.0%).
By contrast, household final consumption expenditure was up on the same quarter a year earlier, increasing by a price adjusted 0.5%. In this context, final consumption expenditure for health and transport increased, while there was a drop in price adjusted spending on food and beverage service activities and accommodation services, for example. Year on year, the general government sector also increased its consumption expenditure (+2.6%) in the 1st quarter of 2025. The increase was due, in particular, to higher social benefits in kind for hospital treatment, medication and care, for example.
In the 1st quarter of 2025, developments in foreign trade compared with the same quarter of the previous year continued to be mixed. Exports were down by a price adjusted 1.1%. While there was a slight uptick in exports of services (+0.2%), exports of goods declined (-1.4%), which was due in part to lower exports of machinery and motor vehicles, trailers and semi-trailers. By contrast, imports were up 2.5%, with imports of both goods (+2.8%) and services (+2.0%) rising significantly on the same quarter of the previous year. Within imports of goods, positive trends were registered for metals and other transport equipment products, in particular. With regard to imports of services, there was an increase in telecommunications services and other business services.
Manufacturing and construction markedly down year on year, service branches stagnating
Price adjusted gross value added decreased by a total of 0.7% in the 1st quarter of 2025 compared with the same quarter of the previous year. While gross value added stagnated in the service sector (0.0%), manufacturing recorded another decrease (-1.6%). The construction industry once again faced a marked decline in value added (-3.5%) year on year. Production fell in all areas of construction: in building construction and building completion work, the decrease observed in the 4th quarter of 2024 continued, and civil engineering saw a drop in output for the first time after four consecutive quarters of year-on-year increases.
In the service sector, the aggregated branch of public services, education, health (+1.6%), in particular, performed better in the 1st quarter of 2025 than in the same period a year earlier. Information and communication (+0.7%) and other services (+0.1%) also increased their price-adjusted economic performance, while financial and insurance activities (-3.8%) and business services (-1.0%) recorded declines. Compared with the same period a year earlier, economic performance was stagnant in trade, transport, accommodation and food services.
Employment below previous year’s level
The economic performance in the 1st quarter of 2025 was achieved by roughly 45.8 million persons in employment whose place of employment was in Germany. This was a decrease of 60,000 people, or 0.1%, compared with the 1st quarter of 2024. Persistent declines were registered in industry and construction, whereas employment increased in the service sector (see press release no. 174 of 16 May 2025) (only in German).
On average, more hours were worked per person in employment than in the 1st quarter of 2024 (+0.4%). The labour volume of the overall economy - the number of persons in employment multiplied by the average number of hours worked per person in employment - was up 0.2% in the same period. This is shown by provisional calculations of the Institute for Employment Research (IAB) of the Federal Employment Agency.
Overall labour productivity (price adjusted GDP per hour worked by persons in employment) fell by 0.5% on the same quarter of the previous year. Labour productivity per person in employment was only 0.1% lower than a year earlier.
Consumption rose more sharply than income, savings ratio slightly lower than in previous year
At current prices, GDP rose by 2.4% and the gross national income was up 3.3% in the 1st quarter of 2025 compared with the previous year. Net national income at factor costs increased by 2.9% from the 1st quarter of 2024. According to provisional calculations, the compensation of employees rose by 4.6% and total gross wages and salaries increased by 3.9%, whereas property and entrepreneurial income dropped by 1.3%. As there was only a slight increase in the number of employees, average gross wages and salaries per employee also went up by 3.9% compared with the same period a year earlier. The increase was smaller in net terms (+2.6%). This is because the share of social security contributions contained in gross wages and salaries in the 1st quarter of 2025 is markedly higher than in the 1st quarter of 2024, when employees received premiums to compensate for inflation which were not subject to contribution payments.
As household final consumption expenditure (+3.2%) increased slightly more than household income (+2.5%) year on year, the savings ratio dropped to the current level of 13.0%. In the 1st quarter of 2024, it was 13.6%.
Germany's economy compared with other countries
Compared with other countries, Germany’s economic performance at the start of the year was slightly above the European average: in the 1st quarter of 2025, economic performance in the European Union (EU) as a whole increased by 0.3% quarter on quarter and was slightly below Germany's 0.4% growth. After price, seasonal and calendar adjustment, the biggest GDP growth among the other large EU Member States was reported in Spain (+0.6%). Economic performance was also up in Italy (+0.3%) and France (+0.1%). In the US, however, there was a 0.1% drop in GDP compared with the 4th quarter of 2024. Short-term economic development in the United States therefore lagged behind most EU Member States. Year on year, and after adjustment for price, seasonal and calendar variations, Germany's economic performance stagnated (0.0%), while the EU as a whole registered growth of 1.4%.
| USA | Euroarea | EU 27 | France | Italy | Spain | Germany | |
|---|---|---|---|---|---|---|---|
| Previous quarter: change on the fourth quarter of 2024; Same quarter of the previous year: change on the first quarter of 2024. Source: Eurostat and own calculations | |||||||
| Previous quarter | -0.1 | 0.3 | 0.3 | 0.1 | 0.3 | 0.6 | 0.4 |
| Same quarter of the previous year | 2.0 | 1.2 | 1.4 | 0.8 | 0.6 | 2.8 | 0.0 |
A detailed comparison of the EU Member States’ growth rates is available on the "Europe in figures" page on the Federal Statistical Office’s website.
Revision of previous results
In addition to calculating data for the 1st quarter of 2025, the Federal Statistical Office also reviewed the results for all four quarters of 2024, and the year 2024. Compared with the first release of 30 April 2025, there have been slight changes to the results published so far for the price adjusted gross domestic product. More detailed data on the recalculations are shown in the table "Comparison between old and new figures" in this press release.
Methodological notes:
The differing comparative periods must be taken into account in all press releases on short-term indicators. Short-term economic monitoring focuses on comparisons of seasonally and calendar adjusted figures with those of the previous month or quarter. These reflect short-term economic trends. Year-on-year comparisons enable longer-term comparisons of levels and are not influenced by seasonal fluctuations.
More information:
More detailed results are contained in Tables 81000 of the GENESIS-Online database and our German publications Fachserie 18 “National Accounts“, Series 1.2 "Vierteljahresergebnisse" and Series 1.3 “Seasonally adjusted quarterly results using X13". A long time series containing quarterly results on the gross domestic product since the 1st quarter of 1970 is available in the "Volkswirtschaftliche Gesamtrechnungen“ statistical report (only in German).
Germany's GDP can also be found on the Economic Dashboard, which is part of Dashboard Germany (www.dashboard-deutschland.de) (only in German). In this data portal, the Federal Statistical Office brings together up-to-date indicators from official statistics producers and other data providers on the topics of the economy, finance, the labour market, construction, housing, energy and Ukraine. The portal also contains the Economic Pulse Monitor tool (only in German) for real-time economic monitoring.
| New result | Previous result | Difference | |||||
|---|---|---|---|---|---|---|---|
| Figures adjusted for seasonal and calendar effects using X13 | Unadjusted figures | Figures adjusted for seasonal and calendar effects using X13 | Unadjusted figures | Figures adjusted for seasonal and calendar effects using X13 | Unadjusted figures | ||
| 1 Seasonally and calendar adjusted figures: change on the previous year. unadjusted figures: change on the same quarter of the previous year. qtr = quarter | |||||||
| Change, percent 1 | Percentage points | ||||||
| 2024 | -0.2 | -0.2 | -0.2 | -0.2 | 0.0 | 0.0 | |
| 2024 | 1st qtr | 0.2 | -0.8 | 0.2 | -0.8 | 0.0 | 0.0 |
| 2nd qtr | -0.3 | 0.1 | -0.3 | 0.1 | 0.0 | 0.0 | |
| 3rd qtr | 0.1 | 0.1 | 0.1 | 0.1 | 0.0 | 0.0 | |
| 4th qtr | -0.2 | -0.4 | -0.2 | -0.4 | 0.0 | 0.0 | |
| 2025 | 1st qtr | 0.4 | -0.2 | 0.2 | -0.4 | 0.2 | 0.2 |
| Unadjusted figures | Figures according to X13 price adjusted | |||||||
|---|---|---|---|---|---|---|---|---|
| At current prices | Price adjusted, chain-linked | Seasonally and calendar adjusted | Calendar adjusted | |||||
| EUR billion | % 1 | 2020 = 100 | % 1 | 2020 = 100 | % 2 | % 1 3 | ||
| 1 Change on the previous year or the same quarter of the preceding year. 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 | ||||||||
| 2024 | 4,305.26 | 2.9 | 104.56 | -0.2 | 104.63 | -0.2 | -0.2 | |
2024 | 1st qtr | 1,064.83 | 3.0 | 104.90 | -0.8 | 104.86 | 0.2 | -0.1 |
| 2nd qtr | 1,060.79 | 3.6 | 103.12 | 0.1 | 104.55 | -0.3 | -0.3 | |
| 3rd qtr | 1,078.22 | 2.8 | 105.10 | 0.1 | 104.66 | 0.1 | -0.3 | |
| 4th qtr | 1,101.42 | 2.1 | 105.14 | -0.4 | 104.45 | -0.2 | -0.2 | |
| 2025 | 1st qtr | 1,089.96 | 2.4 | 104.65 | -0.2 | 104.88 | 0.4 | 0.0 |
| 2024 | 2025 | ||||
|---|---|---|---|---|---|
| 1st qtr | 2nd qtr | 3rd qtr | 4th qtr | 1st qtr | |
| 1 Including acquisitions less disposals of valuables and the statistical difference between production and expenditure approach. 2 Contributions to growth of price-adjusted GDP, percentage points. 3 Only seasonally adjusted. qtr = quarter | |||||
| Unadjusted figures Change on the previous year | |||||
| Final consumption expenditure | 0.7 | 0.8 | 1.3 | 1.4 | 1.1 |
| Household final consumption expenditure | 0.4 | -0.3 | 0.2 | 0.4 | 0.5 |
| Government final consumption expenditure | 1.5 | 3.6 | 4.1 | 3.6 | 2.6 |
| Gross capital formation | -6.8 | -6.1 | -0.6 | 4.5 | 1.7 |
| Gross fixed capital formation | -3.3 | -2.5 | -2.4 | -2.5 | -1.0 |
| Gross fixed capital formation in construction | -5.1 | -3.4 | -2.7 | -1.8 | -1.0 |
| Gross fixed capital formation in machinery and equipment | -4.9 | -4.8 | -6.0 | -5.9 | -3.8 |
| Other fixed assets | 4.9 | 4.4 | 4.0 | 2.4 | 3.5 |
| Changes in inventories 1 2 | -0.9 | -0.8 | 0.4 | 1.5 | 0.6 |
| Domestic uses | -1.1 | -0.7 | 0.8 | 2.1 | 1.2 |
| Exports | -3.1 | 1.2 | -0.7 | -4.7 | -1.1 |
| Imports | -4.4 | -0.5 | 1.1 | 1.0 | 2.5 |
| Balance of exports and imports (net exports) 2 | 0.4 | 0.7 | -0.7 | -2.4 | -1.4 |
| Gross domestic product | -0.8 | 0.1 | 0.1 | -0.4 | -0.2 |
| memorandum item: | |||||
| GDP per person in employment | -1.1 | -0.1 | 0.1 | -0.4 | -0.1 |
| GDP per hour worked by persons in employment | 0.5 | 0.3 | -0.1 | -1.0 | -0.5 |
| Seasonally and calendar adjusted figures change on the previous quarter | |||||
| Final consumption expenditure | 0.1 | 0.5 | 0.5 | 0.3 | 0.2 |
| Household final consumption expenditure | -0.1 | 0.1 | 0.3 | 0.2 | 0.5 |
| Government final consumption expenditure | 0.5 | 1.5 | 1.2 | 0.4 | -0.3 |
| Gross capital formation | 0.3 | -1.9 | 3.9 | 3.0 | -3.2 |
| Gross fixed capital formation | 0.2 | -1.8 | -0.4 | 0.5 | 0.9 |
| Gross fixed capital formation in construction | 0.5 | -1.8 | -0.3 | 0.8 | 0.5 |
| Gross fixed capital formation in machinery and equipment | -0.9 | -3.2 | -1.1 | 0.2 | 0.7 |
| Other fixed assets | 1.0 | 0.5 | 0.7 | 0.2 | 2.0 |
| Changes in inventories 1 2 | 0.0 | 0.0 | 0.9 | 0.5 | -0.9 |
| Domestic uses | 0.2 | 0.0 | 1.3 | 0.9 | -0.5 |
| Exports | 0.1 | 1.8 | -2.6 | -3.1 | 3.2 |
| Imports | -0.3 | 2.8 | -0.1 | -0.7 | 1.1 |
| Balance of exports and imports (net exports)2 | 0.1 | -0.3 | -1.1 | -1.1 | 0.9 |
| Gross domestic product (GDP) | 0.2 | -0.3 | 0.1 | -0.2 | 0.4 |
| memorandum item: | |||||
| GDP per person in employment | 0.2 | -0.3 | 0.2 | -0.2 | 0.4 |
| GDP per hour worked by persons in employment 3 | 0.0 | -0.6 | 0.0 | -0.4 | 0.5 |
| 2024 | 2025 | ||||
|---|---|---|---|---|---|
| 1st qtr | 2nd qtr | 3rd qtr | 4th qtr | 1st qtr | |
| qtr = quarter | |||||
| Unadjusted figures Change on the previous year | |||||
| Agriculture, forestry and fishing | -0.5 | -0.6 | -0.1 | -1.7 | -3.0 |
| Industry, excluding construction | -2.4 | -0.5 | -1.1 | -7.1 | -2.3 |
| including: | |||||
| Manufacturing | -4.3 | -1.7 | -2.0 | -3.6 | -1.6 |
| Construction | -3.6 | -3.5 | -4.0 | -4.1 | -3.5 |
| Trade, transport, accommodation and food services | -0.1 | 0.7 | 0.3 | -0.1 | 0.0 |
| Information and communication | 2.7 | 3.1 | 1.9 | 0.8 | 0.7 |
| Financial and insurance activities | 0.3 | 0.2 | -0.6 | -2.0 | -3.8 |
| Real estate activities | 1.7 | 1.8 | 0.5 | -0.2 | -0.6 |
| Business services | 0.8 | 1.0 | -0.1 | -1.1 | -1.0 |
| Public services, education, health | 1.2 | 1.6 | 2.6 | 2.5 | 1.6 |
| Other services | 1.0 | 1.1 | 1.4 | 0.7 | 0.1 |
| Gross value added, total | -0.1 | 0.6 | 0.2 | -1.7 | -0.7 |
| Seasonally and calendar adjusted figures change on the previous quarter | |||||
| Agriculture, forestry and fishing | -0.7 | -0.1 | 0.1 | -1.1 | -1.6 |
| Industry, excluding construction | -3.8 | -0.4 | -1.7 | -0.8 | 1.5 |
| including: | |||||
| Manufacturing | -0.7 | -0.6 | -1.3 | -0.3 | 1.0 |
| Construction | 0.6 | -2.8 | -1.0 | -0.1 | 0.9 |
| Trade, transport, accommodation and food services | 0.4 | -0.7 | -0.1 | 0.6 | 1.1 |
| Information and communication | 2.1 | -0.2 | -0.6 | -0.3 | 1.7 |
| Financial and insurance activities | 1.1 | -0.5 | -1.0 | -1.6 | -0.8 |
| Real estate activities | 0.6 | 0.1 | -0.5 | -0.4 | 0.2 |
| Business services | -0.2 | 0.2 | -0.7 | -0.3 | 0.0 |
| Public services, education, health | 0.7 | 0.3 | 1.5 | 0.0 | -0.2 |
| Other services | 0.8 | 0.0 | 0.5 | -0.3 | -0.3 |
| Gross value added, total | -0.5 | -0.3 | -0.4 | -0.3 | 0.6 |
