Latest data released by Destatis - 29 January 2021
- Prior (Q3) +8.5%
- Q4 GDP (non-seasonally adjusted) -2.9% vs -3.2% y/y expected
- Prior (Q3) -3.9%
- Q4 GDP (working day adjusted) -3.9% vs -4.0% y/y expected
- Prior -4.0%
German economic output basically ground to a halt in the final quarter of last year, barely escaping from posting a contraction again following a robust Q3 performance. This does reflect some slight optimism that economic activity wasn't as bad as feared towards the end of last year but the threat of a double-dip recession still remains a possibility.
