After economic performance had increased again in summer despite growing delivery bottlenecks and material shortages, the recovery of the German economy came to a halt at the end of the year due to the fourth COVID-19 wave and another reinforcement of COVID-19 preventive measures.
In Q4 2021, especially household final consumption expenditure declined on the previous quarter, while government final consumption expenditure recorded an increase. Gross fixed capital formation in construction decreased on Q3 2021, Destatis said in a press release.
The GDP in Q4 2021 was still 1.5 per cent lower (price-, seasonally and calendar-adjusted) than in Q4 2019, the quarter before the COVID-19 crisis started.
ALCHEMPro News Desk (DS)
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