Press release 167 / 2014-05-15: Gross domestic product up 0.8% in 1st quarter of 2014
WIESBADEN – The German economy is gaining momentum. In the first quarter of 2014, the gross domestic product (GDP) rose 0.8% on the fourth quarter of 2013 after adjustment for price, seasonal and calendar variations. The moderate growth rate of last year (+0.4% in the last quarter of 2013) thus has increased. The Federal Statistical Office (Destatis) also reports, however, that a factor that contributed to the strong growth at the beginning of the year was the extremely mild weather.
In a quarter-on-quarter comparison (adjusted for price, seasonal and calendar variations), positive contributions were made only by domestic demand, according to provisional calculations. Households and general government increased their final consumption expenditure at the beginning of the year. Capital formation showed a positive development, too. Fixed capital formation in construction and in machinery and equipment was markedly up on the fourth quarter of 2013, and building inventories also supported the GDP. Foreign trade, however, had a downward effect on economic growth. According to provisional calculations, exports of goods were down at the beginning of 2014, while imports of goods were markedly up on the last quarter of 2013.
In a year-on-year comparison, economic growth accelerated markedly. The price-adjusted GDP rose +2.5% (a calendar adjusted +2.3%) in the first quarter of 2014, which was the largest increase in over two years.
The economic performance in the first quarter of 2014 was achieved by 41.7 million persons in employment, which was an increase of 344,000 or 0.8% on a year earlier.
In the context of the first calculation of data for the first quarter of 2014, the Federal Statistical Office also revised - and modified where necessary - the national accounting results published previously for the quarters and the year of 2013. This did not result in any changes of the gross domestic product data published so far.
|Unadjusted figures||Figures according to Census X-12-ARIMA|
|Seasonally and calendar-adjusted||Calendar-adjusted1||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 %.
More detailed results will be released by the Federal Statistical Office on 23 May 2014.
A long time series with quarterly results on the gross domestic product starting with the first quarter of 1970 is available here.
For further information:
National accounts info team,
tel: +49 611 75 2626,