Germany: 2022 preliminary GDP expands 1.9% YoY vs. 1.8% expected

Germany’s preliminary Gross Domestic Product (GDP) expanded by 1.9% on an annualized basis in 2022 when compared to the +1.8% market consensus and +2.6% previous, Statistisches Bundesamt Deutschland reported on Friday.

Key takeaways

German economy likely stagnated in the fourth quarter of 2022.

Measured as a percentage of nominal GDP, there was a 2.6% deficit ratio of the general government for 2022.

German government budget recorded a financial deficit of EUR117.6 billion at end of 2022.