Germany – where is the recovery coming from?
German GDP has been growing quite nicely over the past three quarters.
Dr. Jörg Krämer
Commerzbank Economic Research
09/07/2026
We analyze what’s driving this trend.
GDP and leading indicators are rising
The German economy stagnated for a long time following the COVID-19 pandemic. But since the beginning of 2024, Germany’s GDP has been growing again. In each of the past three quarters, it even increased by at least 0.3% compared with the previous quarter, which corresponds to an annualized rate of 1.2%. The German economy has clearly emerged from its period of stagnation.
For full text see attached PDF-Version.
