Germany: GDP revised downwards, -0.3% in Q2
German GDP in the second quarter fell by 0.3% compared to the previous quarter (from -0.1% in the first reading), while it rose by 0.2% compared to the same period in 2024 (from +0.4%)
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The German economy contracted more significantly in the spring than initially expected. GDP decreased by 0.3 per cent in the second quarter of 2025 compared to the first quarter of 2025, adjusted for price, seasonal and calendar effects. According to the Federal Statistical Office (Destatis), the decline in economic output was thus 0.2 percentage points higher than reported in the flash report of 30 July 2025. In particular, industrial production performed worse than initially expected. In the first quarter of 2025, GDP increased by 0.3 % compared to the previous quarter and by 0.2 % in the fourth quarter of 2024. Based on the newly available data, production in the manufacturing and construction sectors, in particular, performed worse than expected in June 2025. Furthermore, private consumption for the second quarter of 2025 was revised downwards due to newly available information on the service sectors, such as the monthly hotel sector statistics for June 2025. Overall, the economic indicators received between the GDP flash publication and the new calculation status resulted in a deterioration of the overall economic picture in Q2 2025.
