German Q2 GDP not so bad
The slight 0.1% decline of German Q2 GDP is mainly due to special factors.
Commerzbank Economic Research
07/30/2025
The German GDP fell by 0.1% in the second quarter compared to the first quarter. This decline was expected (Consensus & Commerzbank: -0.1%). According to the Federal Statistical Office, construction and equipment investments fell in the second quarter, while private and government consumption rose. The statisticians will publish data on demand components on August 22.
Significant revisions barely change the basis for the forecast
The statisticians have significantly revised the past data. They no longer show a decrease of 0.2% for Q4 2024, but an increase of 0.2%. They also revised Q1 2025 down by 0.1 percentage points to 0.3%. Overall, the basis for the 2025 forecast improves slightly by 0.1 percentage points. According to the revised figures, the GDP has shown an upward tendency since last autumn.
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