Germany’s price-adjusted gross domestic product in Q1 2021 was 3.4% below that of the comparable quarter of 2020, according to Destatis press release. Price and calendar adjusted GDP was 1.8% lower than Q4 2020.
Price and calendar adjusted GDP was 3.1% lower than Q1 2020 .
The first quarter GDP means that Germany’s growth was 5.0% below that of Q4 2019 before the coronavirus crisis started.
The decline in GDP in the first quarter was fueled by a fall in the economic performance on heightening coronavirus crisis.
The slowdowns in GDP happens after Germany appeared to enter its recovery phase with growth up 8.7% in Q3 2020 and 0.5% in Q4 2020.
German stocks and the Euro are currently gaining. DAX is up 0.74%, EURUSD is up 0.28%
