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Press release 287 / 2014-08-14: Gross domestic product down 0.2% in 2nd quarter of 2014

WIESBADEN – The German economy is losing momentum. In the second quarter of 2014, the gross domestic product (GDP) decreased 0.2% on the previous quarter after adjustment for price, seasonal and calendar variations; this is reported by the Federal Statistical Office (Destatis). However, one of the reasons probably was the extremely mild weather leading to high growth rates at the beginning of the year. According to the most recent calculations, the German economy had grown by 0.7% in the first quarter of 2014; in the last quarter of 2013, the GDP had been up 0.4% on the previous quarter. These results are based on the new ESA 2010 methodology for the first time.

The aggregates responsible for the slight GDP decrease in the second quarter of 2014 were, according to provisional calculations, foreign trade and capital formation. In a quarter-on-quarter comparison, the increase in exports was smaller than the increase in imports, so that the balance of exports and imports had a negative effect on the German economic development. Also, capital formation, especially in construction, fell markedly, one of the probable causes being anticipatory effects due to the unusually mild winter of 2013/2014. However, both households and government consumed slightly more than in the previous quarter.

Compared with the previous year, the German economy lost momentum, too, but continued to grow. The price-adjusted GDP in the second quarter of 2014 was up by 0.8% (1.2% when calendar-adjusted) on the second quarter of 2013.

Along with the first calculation of data for the second quarter of 2014, the Federal Statistical Office has also released first results of the major revision of national accounts. The revision was required to implement the European System of Accounts (ESA 2010), which will be legally binding from September 2014. The ESA 2010 defines for the entire EU what concepts, definitions and accounting rules have to be applied in compiling national accounts to make the data comparable at an international level. Beyond the implementation of the ESA 2010, the results published previously for Germany from 1991 and their calculation have been checked and revised where necessary, and new data and findings have been integrated in the accounting system, as is generally done in major revisions of national accounts.

More information on the 2014 major revision of national accounts. Another document available there is a detailed comparative table showing the old and new results of the gross domestic product for quarters and years from 1991.

More detailed results will be released by the Federal Statistical Office on 1 September 2014.

Gross domestic product
Price-adjusted, chain-linked
 Unadjusted figuresFigures according to Census X-12-ARIMA
Seasonally and
calendar-adjusted
Calendar-adjusted 1calendar-effect
2010 = 100%22010 = 100%32010 = 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 %.
2010100.00 4.1 99.78 3.9 99.78 3.9  0.1 
2011 103.59 3.6 103.43 3.7 103.43 3.7 –0.1 
2012103.98 0.4 104.04 0.6 104.04 0.6 –0.2 
2013104.09 0.1 104.26 0.2 104.26 0.2 –0.1 
20101st qtr96.94 2.6 97.67 0.8 97.00 2.5  0.1 
2nd qtr99.06 4.7 99.73 2.1 98.96 4.3  0.4 
3rd qtr102.49 4.6 100.49 0.8 102.30 4.6 –0.0 
4th qtr101.50 4.4 101.23 0.7 100.85 4.3  0.1 
20111st qtr102.75 6.0 103.09 1.8 102.51 5.7  0.3 
2nd qtr102.62 3.6 103.28 0.2 102.43 3.5  0.1 
3rd qtr105.67 3.1 103.68 0.4 105.58 3.2 –0.1 
4th qtr103.32 1.8 103.68 0.0 103.21 2.3 –0.5 
20121st qtr104.25 1.5 104.00 0.3 103.51 1.0  0.5 
2nd qtr102.89 0.3 104.13 0.1 103.23 0.8 –0.5 
3rd qtr105.75 0.1 104.22 0.1 106.16 0.5 –0.5 
4th qtr103.03–0.3 103.79–0.4 103.25 0.0 –0.3 
20131st qtr102.42–1.8 103.37–0.4 102.95–0.5 –1.2 
2nd qtr103.36 0.5 104.19 0.8 103.26 0.0  0.4 
3rd qtr106.55 0.8 104.50 0.3 106.45 0.3  0.5 
4th qtr104.02 1.0 104.97 0.4 104.38 1.1 –0.1 
20141st qtr105.00 2.5 105.67 0.7 105.29 2.3  0.2 
2nd qtr104.22 0.8 105.50–0.2 104.55 1.2 –0.4 
Gross domestic product at current prices
 Unadjusted figuresSeasonally and calendar-adjusted
figures according to
Census X-12-ARIMA
EUR bn.Change in %1EUR bn.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 %.

qtr = quarter

20102,576.220 4.9 2,570.488 4.7 
20112,699.100 4.8 2,695.009 4.8 
20122,749.900 1.9 2,751.495 2.1 
20132,809.480 2.2 2,814.137 2.3 
20101st qtr619.110 3.7 627.026 0.6 
2nd qtr633.320 5.4 640.091 2.1 
3rd qtr659.630 5.2 648.036 1.2 
4th qtr664.160 5.1 655.335 1.1 
20111st qtr661.860 6.9 667.548 1.9 
2nd qtr664.750 5.0 671.533 0.6 
3rd qtr688.240 4.3 676.660 0.8 
4th qtr684.250 3.0 679.268 0.4 
20121st qtr680.680 2.8 682.646 0.5 
2nd qtr675.680 1.6 686.353 0.5 
3rd qtr699.390 1.6 690.797 0.6 
4th qtr694.150 1.4 691.699 0.1 
20131st qtr682.420 0.3 692.461 0.1 
2nd qtr694.310 2.8 702.486 1.4 
3rd qtr718.470 2.7 706.246 0.5 
4th qtr714.280 2.9 712.944 0.9 
20141st qtr713.220 4.5 721.702 1.2 
2nd qtr712.580 2.6 723.966 0.3 
Comparison between old and new figures - gross domestic product, price-adjusted, chain-linked
 New resultPrevious result
Chain index

(2010 = 100)
Change in % 1Chain index

(2005 = 100)
Change in % 1

1 Seasonally and calendar-adjusted figures: change on the previous year or previous quarter in %; unadjusted figures: change on the previous year or the same quarter of the preceding year in %.

qtr = quarter

Seasonally and calendar-adjusted figures according to Census X-12-ARIMA
201099.78 3.9 106.57 3.9 
2011103.43 3.7 110.20 3.4 
2012104.04 0.6 111.19 0.9 
2013104.26 0.2 111.78 0.5 
20101st qtr97.67 0.8 104.35 0.5 
2nd qtr99.73 2.1 106.44 2.0 
3rd qtr100.49 0.8 107.30 0.8 
4th qtr101.23 0.7 108.20 0.8 
20111st qtr103.09 1.8 109.86 1.5 
2nd qtr103.28 0.2 109.96 0.1 
3rd qtr103.68 0.4 110.43 0.4 
4th qtr103.68 0.0 110.54 0.1 
20121st qtr104.00 0.3 111.27 0.7 
2nd qtr104.13 0.1 111.18–0.1 
3rd qtr104.22 0.1 111.40 0.2 
4th qtr103.79–0.4 110.89–0.5 
20131st qtr103.37–0.4 110.89 0.0 
2nd qtr104.19 0.8 111.69 0.7 
3rd qtr104.50 0.3 112.05 0.3 
4th qtr104.97 0.4 112.48 0.4 
20141st qtr105.67 0.7 113.40 0.8 
2nd qtr105.50–0.2 xx
Unadjusted figures
2010100.00 4.1 106.80 4.0 
2011103.59 3.6 110.36 3.3 
2012103.98 0.4 111.12 0.7 
2013104.09 0.1 111.60 0.4 
20101st qtr96.94 2.6 102.96 2.7 
2nd qtr99.06 4.7 105.80 4.7 
3rd qtr102.49 4.6 109.69 4.4 
4th qtr101.50 4.4 108.74 4.2 
20111st qtr102.75 6.0 108.78 5.7 
2nd qtr102.62 3.6 109.38 3.4 
3rd qtr105.67 3.1 112.83 2.9 
4th qtr103.32 1.8 110.45 1.6 
20121st qtr104.25 1.5 110.74 1.8 
2nd qtr102.89 0.3 109.99 0.6 
3rd qtr105.75 0.1 113.29 0.4 
4th qtr103.03–0.3 110.45 0.0 
20131st qtr102.42–1.8 109.01–1.6 
2nd qtr103.36 0.5 110.97 0.9 
3rd qtr106.55 0.8 114.54 1.1 
4th qtr104.02 1.0 111.86 1.3 
20141st qtr105.00 2.5 111.75 2.5 
2nd qtr104.22 0.8 xx

>>> brief methodological description

For further information:
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tel: +49 611 75 2626,

presse_gdp_info

gdp-info@destatis.de

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