Normal view

Navigation and service

Logo Destatis - Statistisches Bundesamt, Link to homepage

Press release 316 / 2018-08-24: Detailed gross domestic product results for the 2nd quarter of 2018

Gross domestic product, 2nd quarter of 2018
• +0.5% on the previous quarter (price, seasonally and calendar-adjusted)
• +2.3% on the same quarter a year earlier (price-adjusted)
• +2.0% on the same quarter a year earlier (price and calendar adjusted)

Gross domestic product, price-adjusted in %Enlarge picture WIESBADEN – The German economy continues to grow. As the Federal Statistical Office (Destatis) already reported in its first release of 14 August 2018, the gross domestic product (GDP) increased by 0.5% - upon price, seasonal and calendar adjustment - in the second quarter of 2018 compared with the previous quarter. In the first quarter of 2018, GDP growth had been slightly smaller (0.4%).


Gross domestic product, price-adjusted, chain-linked
(figures adjusted for seasonal and calendar effects using Census X-12-ARIMA)
Changes on a quarter earlier (in percent):
201620172018
1st qtr2nd qtr3rd qtr4th qtr1st qtr2nd qtr3rd qtr4th qtr1st qtr2nd qtr
+0.9+0.4+0.2+0.4+1.1+0.5+0.6+0.5+0.4+0.5

Quarter-on-quarter contributions to growth came from domestic demand
The quarter-on-quarter comparison following price, seasonal and calendar adjustment shows that, on the use side of the gross domestic product, positive contributions mainly came from domestic demand. The final consumption expenditure of households rose by 0.3% and government final consumption expenditure increased by 0.6% on the previous quarter. Capital formation was higher, too. Fixed capital formation in machinery and equipment increased by 0.3% and in construction by 0.6% on the first quarter of 2018. Overall, domestic uses increased markedly by 0.9% compared with the first three months of the year.

According to provisional calculations, exports of goods and services were up 0.7% compared with the first quarter of 2018. There was a notably larger increase in imports (+1.7%) over the same period.

Year-on-year comparison shows strong economic growth
Compared with a year earlier, the price adjusted GDP rose 2.3% in the second quarter of 2018 (first quarter of 2018: +1.4%).

Gross domestic product, price-adjusted, chain-linked (unadjusted figures)
Changes on a year earlier (in percent):
201620172018
1st qtr2nd qtr3rd qtr4th qtr1st qtr2nd qtr3rd qtr4th qtr1st qtr2nd qtr
+2.0+3.7+1.9+1.4+3.4+0.9+2.2+2.2+1.4+2.3

When calendar-adjusted, GDP growth in the second quarter of 2018 was 2.0% (following 2.1% in the first quarter of 2018). There was one working day more than in the second quarter of 2017.

Number of persons in employment continued to rise in the 2nd quarter of 2018
The economic performance in the second quarter of 2018 was achieved by 44.8 million persons in employment in the domestic territory, which was an increase of 599,000 or 1.4% on a year earlier (see press release 301/18 of 14 August 2018).

According to first provisional results of the Institute for Employment Research of the Federal Employment Agency, the average number of hours worked per person in employment also increased by 1.4%. The labour volume of the overall economy, which is the total number of hours worked by all persons in employment, rose by 2.7%.

Overall labour productivity (price-adjusted gross domestic product per hour worked by persons in employment) was down 0.4% on the previous year, according to provisional calculations. Measured per person in employment, labour productivity rose by 1.0%.

Growth contributions mainly came from domestic demand also in a year-on-year comparison
The year-on-year comparison shows that positive contributions to growth came from domestic demand in the second quarter of 2018. After price-adjustment, the final consumption expenditure of both households and government rose by 1.0%. Compared with the second quarter of 2017, gross fixed capital formation in machinery and equipment grew by 5.4% (price- adjusted). Gross fixed capital formation in construction was up by 3.2%. A year-on-year increase was recorded especially in housing construction. On the whole, domestic uses rose by 2.2%.

In the second quarter of 2018, both exports of goods and services (+4.2%) and imports (+4.1%) were up on the same period of the previous year, according to provisional calculations.

Gross value added higher in almost all economic sectors
On the production side of the gross domestic product, the total price-adjusted gross value added was up on the second quarter of 2017 in all economic sectors with the exception of agriculture and forestry. The highest growth rates were recorded for information and communication (+4.8%) and in manufacturing (+3.8%). Overall, gross value added was up by 2.4% in all economic sectors.

Strong increase in compensation of employees
At current prices, both the gross domestic product and the gross national income were up 4.2% in the second quarter of 2018 compared with the second quarter of 2017. Net national income at factor cost rose a total 4.1% according to first provisional calculations, with the compensation of employees (+4.7%) growing markedly faster than property and entrepreneurial income (+3.0%). Both gross and net wages and salaries of employees rose 4.9% on the second quarter of 2017. On average, wages and salaries per employee did not rise that much (3.2% in both gross and net terms) because the number of employees was up as well (+1.7%) compared with the same quarter a year earlier. The disposable income of households increased by 3.2%, the rise being higher than that of household final consumption expenditure at current prices (+2.6%).

Revision of previous results
As every year in August, the Federal Statistical Office also reviewed and revised, where necessary, the results published previously for the last four years (from 2014) and for the first quarter of 2018 in the context of the first calculation of data for the second quarter of 2018. The first provisional results are revised several times to incorporate new statistical information. In this way, data users are always supplied with the best possible results for analyses and projections. As reported in the first release of 14 August 2018, the current recalculation resulted in price adjusted change rates of the annual and quarterly GDP that differ from the data published previously by up to 0.5 percentage points. Markedly larger corrections were required for individual GDP components. As is usual for seasonally and calendar-adjusted series, modified results may also appear in the whole time series from 1991 onwards.

National accounts data may be accessed via the Destatis website. More detailed results are published in Fachserie 18 "National Accounts", Series 1.2 “Quarterly results“ and Series 1.3 “Seasonally adjusted quarterly results using Census X-12-ARIMA and BV 4.1. The above and other publications can be downloaded from National accounts. A detailed quality report on national accounts is available at the internet.  

Gross domestic product
 Unadjusted figuresFigures according to
Census X-12-ARIMA
price-adjusted, chain-linked
At current pricesPrice-adjusted, chain-linkedSeasonally and calendar-adjustedcalendar-adjusted
EUR billion% 12010 = 100% 12010 = 100% 2% 1 3
1 Change on the previous year or the same quarter of the preceding year in %.
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
20142,938.59 4.0106.96 2.2107.13 2.2 2.2
20153,048.86 3.8108.82 1.7108.72 1.5 1.5
20163,159.75 3.6111.26 2.2111.06 2.2 2.2
20173,277.34 3.7113.66 2.2113.79 2.5 2.5
20141st qtr719.60 5.0106.15 3.2106.73 1.0 3.0
2nd qtr722.41 3.4105.62 1.5106.67-0.1 1.9
3rd qtr747.80 3.4108.99 1.7107.04 0.3 1.6
4th qtr748.78 4.1107.10 2.4108.07 1.0 2.2
20151st qtr742.83 3.2107.51 1.3107.92-0.1 1.2
2nd qtr750.56 3.9107.51 1.8108.56 0.6 1.8
3rd qtr775.48 3.7110.91 1.8108.89 0.3 1.7
4th qtr779.99 4.2109.34 2.1109.49 0.6 1.3
20161st qtr770.40 3.7109.68 2.0110.49 0.9 2.4
2nd qtr789.22 5.2111.45 3.7110.98 0.4 2.3
3rd qtr799.88 3.1113.05 1.9111.17 0.2 2.1
4th qtr800.25 2.6110.86 1.4111.60 0.4 1.9
20171st qtr803.37 4.3113.40 3.4112.84 1.1 2.1
2nd qtr808.72 2.5112.45 0.9113.46 0.5 2.2
3rd qtr833.24 4.2115.50 2.2114.12 0.6 2.6
4th qtr832.01 4.0113.27 2.2114.73 0.5 2.8
20181st qtr828.98 3.2114.95 1.4115.15 0.4 2.1
2nd qtr842.86 4.2115.09 2.3115.67 0.5 2.0

 

Use of the gross domestic product
Unadjusted figures 
 20142015201620172018
1st qtr2nd qtr
qtr = quarter
At current prices
EUR bn
Consumption expenditure2,158.1052,218.2842,291.0632,371.051587.033606.069
Final consumption expenditure of households and NPISHs1,594.1431,630.8871,675.5691,732.176427.673445.159
Government final consumption expenditure563.962587.397615.494638.875159.360160.910
Gross capital formation577.006586.438621.219658.497178.171171.399
Gross fixed capital formation (GFCF)587.549605.510634.029665.722159.732179.377
GFCF in machinery and equipment191.698201.217206.502215.21451.74856.169
GFCF in construction289.663290.742307.114326.63077.27391.948
GFCF in other products106.188113.551120.413123.87830.71131.260
Domestic uses2,735.1112,804.7222,912.2823,029.548765.204777.468
Exports1,341.3141,428.6881,450.2321,541.898389.907402.068
Imports1,137.8351,184.5501,202.7641,294.106326.131336.676
Gross domestic product (GDP)2,938.5903,048.8603,159.7503,277.340828.980842.860
Price-adjusted, chain-linked
Change on the previous year in %
Consumption expenditure1.22.02.61.71.41.0
Final consumption expenditure of households and NPISHs1.01.72.11.81.61.0
Government final consumption expenditure1.62.94.01.60.81.0
Gross capital formation3.10.14.63.21.96.7
Gross fixed capital formation (GFCF)3.91.63.52.92.23.4
GFCF in machinery and equipment5.94.12.23.74.75.4
GFCF in construction2.2-1.43.82.91.43.2
GFCF in other products5.15.45.21.30.40.4
Domestic uses1.61.63.02.01.52.2
Exports4.75.32.34.62.24.2
Imports3.75.64.14.82.74.1
Gross domestic product (GDP)2.21.72.22.21.42.3
memorandum item:
GDP per person in employment1.40.80.90.7-0.11.0
GDP per hour worked by persons in employment1.00.61.40.91.0-0.4
Contributions to growth of price-adjusted GDP in percentage points
Consumption expenditure0.91.51.91.21.00.7
Final consumption expenditure of households and NPISHs0.60.91.10.90.80.5
Government final consumption expenditure0.30.60.80.30.20.2
Gross capital formation0.60.00.90.60.41.3
Gross fixed capital formation (GFCF)0.80.30.70.60.40.7
GFCF in machinery and equipment0.40.30.20.20.30.4
GFCF in construction0.2-0.10.40.30.10.3
GFCF in other products0.20.20.20.10.00.0
Changes in inventories and so on-0.2-0.30.20.10.00.6
Domestic uses1.51.52.71.91.42.0
Balance of exports and imports (net exports)0.70.2-0.50.3-0.10.4

 

 Use of the gross domestic product
Seasonally and calendar-adjusted figures according to Census X-12-ARIMA
  20172018
1st qtr2nd qtr3rd qtr4th qtr1st qtr2nd qtr
1 Only seasonally adjusted.
qtr = quarter
At current prices
EUR bn
Consumption expenditure586.298591.501594.925599.915604.157608.946
Final consumption expenditure of households and NPISHs428.831432.672434.601437.660441.594444.482
Government final consumption expenditure157.467158.829160.324162.255162.563164.464
Gross capital formation160.416165.025166.543167.842170.464178.630
Gross fixed capital formation (GFCF)163.253166.342167.946169.868173.386175.436
GFCF in machinery and equipment52.35253.83254.57255.10256.16956.478
GFCF in construction80.30081.65382.29883.42285.80487.301
GFCF in other products30.60130.85731.07631.34431.41331.657
Domestic uses746.714756.526761.468767.757774.621787.576
Exports378.834383.855387.285395.168395.100399.056
Imports319.233323.595323.042330.405331.800339.004
Gross domestic product (GDP)806.315816.786825.711832.520837.921847.628
Price-adjusted, chain-linked
Change on the previous quarter in %
Consumption expenditure0.60.70.10.30.30.4
Final consumption expenditure of households and NPISHs0.70.80.10.20.50.3
Government final consumption expenditure0.50.40.30.4-0.30.6
Gross capital formation-0.21.31.20.30.92.6
Gross fixed capital formation (GFCF)2.01.30.40.31.40.5
GFCF in machinery and equipment2.22.71.20.52.30.3
GFCF in construction2.50.7-0.10.21.60.6
GFCF in other products0.50.40.20.4-0.50.3
Domestic uses0.50.80.40.30.40.9
Exports2.31.11.21.7-0.30.7
Imports1.01.80.81.3-0.21.7
Gross domestic product (GDP)1.10.50.60.50.40.5
memorandum item:
GDP per person in employment 0.70.20.30.2-0.10.3
GDP per hour worked by persons in employment 10.30.6-0.10.7-0.2-.07
Contributions to growth of price-adjusted GDP in percentage points
Consumption expenditure0.50.50.10.20.20.3
Final consumption expenditure of households and NPISHs0.40.40.00.10.30.2
Government final consumption expenditure0.10.10.10.1-0.10.1
Gross capital formation0.00.30.20.10.20.5
Gross fixed capital formation (GFCF)0.40.30.10.10.30.1
GFCF in machinery and equipment0.10.20.10.00.20.0
GFCF in construction0.20.10.00.00.20.1
GFCF in other products0.00.00.00.00.00.0
Changes in inventories and so on-0.40.00.20.0-0.10.4
Domestic uses0.40.70.30.30.40.8
Balance of exports and imports (net exports)0.7-0.20.30.3-0.1-0.4

  

Gross value added by economic sector
 20142015201620172018
1st qtr2nd qtr
qtr = quarter
At current prices
EUR bn
Agriculture, forestry and fishing25.68319.90121.05425.4725.3785.495
Industry, excluding construction681.773710.116747.836772.523197.224201.479
including:
Manufacturing601.431630.671666.300690.213175.165182.001
Construction119.974125.771133.905144.30031.86339.809
Trade, transport, accommodation and food services417.908440.443456.189478.409116.352126.550
Information and communication125.172128.775133.195137.23735.82334.643
Financial and insurance activities109.396111.568113.056113.33728.13728.228
Real estate activities293.374302.353308.254316.15881.39881.046
Business services289.107301.403308.710319.35482.25980.218
Public services, education, health476.363492.954512.317531.297137.417134.096
Other services107.694112.053113.224116.60929.76229.165
Gross value added, total2,646.4442,745.3372,847.7402,954.696745.613760.729
Price-adjusted, chain-linked
Change on the previous year in %
Agriculture, forestry and fishing14.0-14.4-2.23.00.3-0.1
Industry, excluding construction4.82.54.82.41.73.2
including:
Manufacturing5.42.54.72.71.83.8
Construction3.60.01.82.41.82.3
Trade, transport, accommodation and food services1.61.51.33.41.92.4
Information and communication5.22.23.43.63.74.8
Financial and insurance activities-5.1-0.80.40.40.30.8
Real estate activities-0.20.20.01.10.91.2
Business services2.52.01.02.61.73.0
Public services, education,health0.82.32.61.41.41.5
Other services0.20.9-1.11.20.11.4
Gross value added, total2.21.52.22.21.52.4

  

Distribution of gross national income
 20142015201620172018
1st qtr2nd qtr
qtr = quarter
At current prices
EUR bn
Gross national income2,996.0773,114.6333,222.4053,346.282850.992845.874
Net national income (factor costs)2,187.1432,279.7912,363.7232,456.391621.178615.354
Compensation of employees1,485.4371,542.9011,600.9751,668.810407.916427.023
Property and entrepreneurial income701.706736.890762.748787.581213.262188.331
Gross wages and salaries of employees1,213.0231,261.3731,311.8591,366.618333.596349.616
Net wages and salaries of employees807.186837.187869.114902.933220.774225.770
memorandum item:
Disposable income of households1,711.3141,755.1991,807.7261,869.916481.645480.780
Savings ratio (in %)9.59.79.89.913.59.9
Change on the previous year in %
Gross national income3.74.03.53.83.14.2
Net national income (factor costs)4.04.23.73.92.94.1
Compensation of employees3.93.93.84.24.64.7
Property and entrepreneurial income4.15.03.53.3-0.13.0
Gross wages and salaries of employees3.94.04.04.24.84.9
Net wages and salaries of employees3.73.73.83.94.84.9
memorandum item:
Disposable income of households2.52.63.03.43.53.2

>>> brief methodological description

For further information:
National accounts info team,
tel: +49 (0) 611 / 75 26 26,
contact form

© Statistisches Bundesamt (Destatis), 2018

Imprint – data protection – contact

Note on the use of cookies

We use cookies to provide you with an optimum website design and to continuously improve it. Access data are stored only in an anonymised form for optimisation purposes. By continuing to use this website, you agree to the use of cookies and to the storage of access data. For more information please refer to our data protection declaration.

OK