Level 2

German GDP up 2.7% in 2021 but still below pre-Covid levels

By Frank Prenesti

Date: Friday 14 Jan 2022

(Sharecast News) - Germany's economy grew by 2.7% in 2021 despite surging Covid-19 and new restrictions and supply chain constraints, according to preliminary official data released on Friday.
The statistics office said that growth was still 2% lower than 2019 pre-pandemic levels. German GDP fell 4.6% in 2020 as the pandemic crippled Europe's largest economy.

"Despite the continuing pandemic situation, more delivery bottlenecks and material shortages, the German economy managed to recover from the sharp fall last year although the economic performance has not yet reached its pre-crisis level again," said Federal Statistical Office president Georg Thiel.

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