Press release 395 / 2012-11-15: Gross domestic product slightly up in 3rd quarter of 2012
WIESBADEN – The German economy continues its growth at a slightly slower pace: In the third quarter of 2012, the gross domestic product (GDP) rose 0.2% – upon price, seasonal and calendar adjustment – on the previous quarter, as reported by the Federal Statistical Office (Destatis). In the first half of the year, GDP growth had been somewhat larger, that is, +0.5% in the first quarter and +0.3% in the second quarter.
In a quarter-on-quarter comparison (price, seasonally and calendar-adjusted), positive contributions were made by foreign demand. According to provisional calculations, the increase in exports of goods and services was slightly larger than that of imports. However, domestic contributions were contrasting. Consumption by both private households and government was higher than in the second quarter when adjusted for price, seasonal and calendar variations. Capital formation in construction was up, too. This roughly compensated for the decrease in capital formation in machinery and equipment observed again and for the decline in inventories.
In a year-on-year comparison, too, economic growth slowed down since the beginning of the year. In the third quarter of 2012, the price-adjusted GDP grew 0.4% on a year earlier. The relatively small increase is due, among other things, to a calendar effect, as was the case in the second quarter. As the reference quarter had one working day less than the same quarter of the previous year, there was a negative effect on GDP growth. Consequently, the GDP increase was larger in calendar-adjusted terms (+0.9%).
According to first provisional calculations, the economic performance in the third quarter of 2012 was achieved by about 41.7 million persons in employment in the domestic territory, which was an increase of 360,000 people or 0.9% on a year earlier.
In the context of the first calculation of data for the third quarter of 2012, the national accounts results published so far for the first two quarters of 2012 were also revised and corrected where required. This did not result in any change for price-adjusted GDP.
More detailed results will be released by the Federal Statistical Office on 23 November 2012.
|Unadjusted figures||Figures according to Census X-12-ARIMA|
|Seasonally and calendar-adjusted||Calendar-adjusted 1||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).
|4th qtr||110.28||1.4||110.27||– 0.1||110.21||1.9||–0.5|
|Unadjusted figures||Seasonally and calendar-adjusted figures according to |
|EUR bn.||Change in % 1||EUR bn.||Change in % 2|
qtr = quarter
A long time series with quarterly results on the gross domestic product starting with the first quarter of 1970 is available here.
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