German GDP fell in the fourth quarter

Exports of goods and services fell by 2.2 percent in the fourth quarter compared to the previous quarter, adjusted for price, seasonal and calendar changes. The last time exports fell by a similar amount on a quarterly basis was in the second quarter of 2020. Imports of goods and services increased by 0.5 percent. Within this, imports of goods fell by 1.0 percent and imports of services increased by 4.2 percent.

Investments have fallen for the fifth consecutive quarter, by 0.3 percent in the fourth quarter of last year compared to the previous quarter. Consumption expenditure increased by 0.2 percent on a quarterly basis, with government consumption increasing by 0.4 percent and household consumption by 0.1 percent.

In the fourth quarter, gross value added fell by 0.3 percent compared to the previous quarter, adjusted for prices, seasonally and calendar effects. Economic output in manufacturing fell by 0.6 percent, the seventh consecutive quarter.

According to the final figures, annual gross domestic product fell by 0.2 percent compared to the previous year, adjusted for prices and calendar effects. In the fourth quarter, German gross domestic product fell on an annual basis for the sixth consecutive quarter.