Latest data released by Destatis – 25 November 2021

  • GDP (non-seasonally adjusted) +2.5% vs +2.5% y/y prelim
  • GDP (working day adjusted) +2.5% vs +2.5% y/y prelim
Slight delay in the release by the source. The preliminary report can be found here.
Almost no change to the initial report with only the headline revised to being a touch softer but it reaffirms a slightly modest expansion, though weighed down by supply bottlenecks and rising cost pressures in general.
The outlook in Q4 and going into next year is even less optimistic as supply and capacity constraints are still part of the picture, with the worsening COVID-19 situation adding to headwinds for the German economy.
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