Press release 048 / 2014-02-14: Gross domestic product up 0.4% in 4th quarter of 2013
WIESBADEN – The German economy continued its moderate growth at the end of the year. In the fourth quarter of 2013, the gross domestic product (GDP) rose 0.4% on the third quarter of 2013 after adjustment for price, seasonal and calendar variations. In the two previous quarters, too, the German economy had grown (by 0.7% and 0.3%, respectively), following stagnation at the beginning of the year. The Federal Statistical Office (Destatis) also reports that this results in a 0.4% increase for the whole year of 2013 (calendar-adjusted: + 0.5%). This is in line with the first calculations of January this year.
In a quarter-on-quarter comparison (adjusted for price, seasonal and calendar variations), positive contributions were made mainly by foreign trade. According to provisional calculations, the increase in exports of goods and services was substantially higher than that of imports. As regards domestic demand, different developments were reported. Government final consumption expenditure remained at the level of the previous quarter, while household final consumption expenditure was slightly lower. A positive development was recorded for fixed capital formation, which was markedly up both in machinery and equipment and in construction compared with the third quarter of 2013. However, inventories were considerably reduced, which slowed down economic growth.
In a year-on-year comparison, economic growth accelerated in the course of the year. The price-adjusted GDP in the fourth quarter of 2013 rose by 1.3%, following increases of 1.1% in the third quarter of 2013 and of 0.9% in the second quarter of 2013.
The statistical carry-over effect of 2013 is +0.6%. This is the rate of GDP change which would be obtained for 2014 if the seasonally and calendar-adjusted GDP remained at the level of the fourth quarter of 2013 for the entire year of 2014.
The economic performance in the fourth quarter of 2013 was achieved by 42.2 million persons in employment, which was an increase of 243,000 or 0.6% on a year earlier.
In the context of the first calculation of data for the fourth quarter of 2013, the Federal Statistical Office also reviewed the national accounting results published previously for the first three quarters of 2013 and for the year of 2013. This did not result in any revisions of the rates of change for the price-adjusted gross domestic product.
More detailed results will be released by the Federal Statistical Office on 25 February 2014.
|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).|
2 Change on the previous year or the same quarter of the preceding year in %.
3 Change on the previous year or previous quarter in %.
|Unadjusted figures||Seasonally and calendar-adjusted figures according to Census X-12-ARIMA|
|Euro billion||Change in %1||Euro billion||Change in %2|
| 1 Change on the previous year or the same quarter of the preceding year in %.|
2 Change on the previous year or previous quarter in %.
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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