Press release No. 039 of 30 January 2025
Gross domestic product (GDP), 4th quarter of 2024
-0.2% on the previous quarter (price, seasonally and calendar adjusted)
-0.4% 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) fell by 0.2% in the fourth quarter of 2024 compared with the third quarter of 2024 after adjustment for price, seasonal and calendar variations. While household and government final consumption expenditure increased, according to the provisional results available, exports were significantly lower than in the previous quarter, after price, seasonal and calendar adjustment. After a year marked by economic and structural challenges, the German economy thus ended 2024 in negative territory. The Federal Statistical Office (Destatis) also reports that price adjusted GDP fell overall by 0.2% in 2024. After price and calendar adjustment, the decline also amounted to 0.2%. The Federal Statistical Office therefore confirms its first estimate for the annual GDP figure, which was released on 15 January 2025 (see Press release no. 19/2025).
Gross domestic product down year on year
GDP in the fourth quarter of 2024 was down a price adjusted 0.4% compared with the fourth quarter of 2023. The decrease was smaller (-0.2%) after price and calendar adjustment as there was one working day less than in the same period a year earlier.
Revision of previous results
In addition to calculating data for the fourth quarter of 2024, as usual the Federal Statistical Office also reviewed the results published earlier and included new statistical information in the calculations for the remaining quarters of 2024. This did not result in any changes for the quarterly price adjusted GDP data published so far.
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 | |
| 2024 | 4,305.26 | 2.9 | 104.56 | -0.2 | 104.63 | -0.2 | -0.2 | |
| 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 | 104.86 | 0.2 | -0.1 |
| 2nd qtr | 1,060.79 | 3.6 | 103.12 | 0.1 | 104.55 | -0.3 | -0.3 | |
| 3rd qtr | 1,078.22 | 2.8 | 105.10 | 0.1 | 104.66 | 0.1 | -0.3 | |
| 4th qtr | 1,101.42 | 2.1 | 105.14 | -0.4 | 104.45 | -0.2 | -0.2 | |
Further information:
Detailed results for the fourth quarter of 2024 will be released by the Federal Statistical Office on 25 February 2025.
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.
Germany's GDP can also be found on the Economic Dashboard, which is part of Dashboard Germany (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.
