Press release No. 408 of 30 October 2024
Gross domestic product (GDP), 3rd quarter of 2024
+0.2% on the previous quarter (price, seasonally and calendar adjusted)
+0.2% on the same quarter a year earlier (price adjusted)
-0.2% on the same quarter a year earlier (price and calendar adjusted)
WIESBADEN – The gross domestic product (GDP) rose by 0.2% in the third quarter of 2024 compared with the second quarter of 2024 after adjustment for price, seasonal and calendar variations. The Federal Statistical Office (Destatis) also reports that government and household final consumption expenditure, in particular, increased in the third quarter of 2024. According to the most recent calculations, economic performance declined by 0.3% in the second quarter of 2024 (previously: -0.1%), following an increase of 0.2% at the beginning of the year.
Gross domestic product down year on year
GDP in the third quarter of 2024 was up a price adjusted 0.2% compared with the third quarter of 2023. After price and calendar adjustment, however, GDP showed a decrease of 0.2% as there was one working day more than in the same period a year earlier.
Revision of previous results
In addition to calculating first data for the third quarter of 2024, as usual the Federal Statistical Office also reviewed the results published earlier for the previous quarters and included new statistical information in the calculations for the first and second quarter of 2024. The change rates of the price adjusted GDP were therefore revised downwards by 0.2 percentage points for the second quarter of 2024. Detailed data on the recalculations are shown in the table comparing old and new figures at the end of this press release.
Methodological notes:
The differing comparative periods must be taken into account in all press releases on short-term indicators. Short-term economic monitoring focuses on comparisons of seasonally and calendar adjusted figures with those of the previous month or quarter. These reflect short-term economic trends. Year-on-year comparisons enable longer-term comparisons of levels and are not influenced by seasonal fluctuations.
| Unadjusted figures | Figures according to X13 price adjusted | |||||||
|---|---|---|---|---|---|---|---|---|
| At current prices | Price adjusted, chain-linked | Seasonally and calendar adjusted | Calendar adjusted | |||||
| EUR billion | % 1 | 2020 = 100 | % 1 | 2020 = 100 | % 2 | % 1 3 | ||
| 1 Change on the previous year or on the same quarter of the previous year in % 2 Change on the previous year or on the previous quarter in %. 3 For full years, the calendar adjusted values are equal to the seasonally and calendar adjusted values (except for rounding discrepancies). qtr = quarter | ||||||||
| 2023 | 4,185.55 | 5.9 | 104.81 | -0.3 | 104.84 | -0.1 | -0.1 | |
| 2023 | 1st qtr | 1,034.14 | 7.3 | 105.72 | 0.6 | 104.96 | 0.1 | 0.2 |
| 2nd qtr | 1,024.06 | 5.9 | 102.98 | -0.4 | 104.80 | -0.2 | 0.0 | |
| 3rd qtr | 1,048.71 | 5.4 | 104.96 | -0.7 | 105.00 | 0.2 | -0.3 | |
| 4th qtr | 1,078.64 | 5.0 | 105.57 | -0.4 | 104.61 | -0.4 | -0.2 | |
| 2024 | 1st qtr | 1,064.83 | 3.0 | 104.90 | -0.8 | 104.85 | 0.2 | -0.1 |
| 2nd qtr | 1,060.79 | 3.6 | 103.12 | 0.1 | 104.55 | -0.3 | -0.3 | |
| 3rd qtr | 1,079.22 | 2.9 | 105.18 | 0.2 | 104.74 | 0.2 | -0.2 | |
| New result | Previous result | Difference | |||||
|---|---|---|---|---|---|---|---|
| Figures adjusted for seasonal and calendar effects using X13 | Unadjusted figures | Figures adjusted for seasonal and calendar effects using X13 | Unadjusted figures | Figures adjusted for seasonal and calendar effects using X13 | Unadjusted figures | ||
| 1 Seasonally and calendar adjusted figures: change on the previous year. unadjusted figures: change on the same quarter of the previous year. qtr = quarter | |||||||
| Change, percent 1 | Percentage points | ||||||
| 2024 | 1st qtr | 0.2 | -0.8 | 0.2 | -0.8 | 0.0 | 0.0 |
| 2nd qtr | -0.3 | 0.1 | -0.1 | 0.3 | -0.2 | -0.2 | |
| 3rd qtr | 0.2 | 0.2 | x | x | x | x | |
More information:
Detailed results for the third quarter of 2024 will be released by the Federal Statistical Office on 22 November 2024.
A long time series containing quarterly results on the gross domestic product since the first quarter of 1970 is available in the "Volkswirtschaftliche Gesamtrechnungen” (only in German) statistical report.
GDP data are also available on Dashboard Germany at www.dashboard-deutschland.de (only in German). In this data portal, the Federal Statistical Office brings together up-to-date indicators from official statistics producers and other data providers on the topics of the economy, finance, the labour market, construction, housing, energy and Ukraine. The portal also contains the Economic Pulse Monitor tool (Pulsmesser Wirtschaft) (only in German) for real-time economic monitoring.
Important information regarding the GENESIS-Online database:
Our database's new user interface will leave the beta phase and be available as the main interface version from 5 November 2024 onwards. The new interface will offer faster data retrieval and intuitive table search and customisation options. There will also be changes to the structure of the machine-readable flat file (CSV) format and the data output format for table downloads. For further details and other important information on the release, please see the info page of the new GENESIS-Online database.
