Germany's GDP Is Hitting A Plateau 🇩🇪
What We're Showing
Germany's quarterly real gross domestic product (GDP) from Q1 1991 to Q2 2024.
Data come from Eurostat via FRED, Federal Reserve Bank of St. Louis, and is updated as of September 2024.
Figures are in billions of chained 2010 euros, seasonally adjusted.
Germany's Economy Is Slowing Down
From pre-pandemic times (Q4 2019) to April 2024, Germany's GDP has only increased by 0.19%, suggesting a stagnating economy in recent years.
An October 2024 Deutsche Bundesbank report predicted that economic activity in Germany could "more or less" stagnate in the fourth quarter of 2024, but report authors are still not expecting a recession.
"[The German economy] remains stuck in the period of weakness that has persisted since mid-2022," the authors wrote.
Germany's stagnating GDP is primarily due to declining investment, weak global demand for exports, structural challenges like an aging population and bureaucratic inefficiencies, and increased competition in key industries like automotive.
As the largest economy in Europe, Germany is likely to drag down overall Eurozone growth, with Germany falling behind the Eurozone average in both current and projected growth forecasts.