October 31, 2022
The gross domestic product (GDP) in Germany rose by 0.3% in the third quarter of 2022 on the second quarter of 2022, adjusted for price, seasonal and calendar variations. After the slight increase seen in the second quarter of 2022 (+0.1%), the German economy managed to hold its ground despite difficult framework conditions of the global economy, with the continuing Covid-19 pandemic, supply chain interruptions, rising prices and the war in Ukraine. The economic performance in the third quarter of 2022 was mainly based on private consumption expenditure.
Gross domestic product increased year on year
GDP in the third quarter of 2022 was up a price adjusted 1.1% and a price and calendar adjusted 1.2% from the third quarter of 2021. Compared with the fourth quarter of 2019, the quarter before the Covid-19 crisis began, the price, seasonally and calendar adjusted GDP for the first time exceeded the pre-pandemic level in the third quarter of 2022 (+0.2%).
Due to the continuing Covid-19 crisis and the impact of the war in Ukraine, these results are subject to larger uncertainties than usual.
Source: DESTATIS
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