Germany Sees Q2 Momentum Slow as High Energy Prices Weigh on Recovery
Updated
Updated · Reuters · Jun 12
Germany Sees Q2 Momentum Slow as High Energy Prices Weigh on Recovery
3 articles · Updated · Reuters · Jun 12
Summary
Germany's economy ministry said the recovery is likely to advance only in small steps, with economic momentum having slowed noticeably in the second quarter.
High energy and commodity prices, together with the Middle East conflict, are the main risks holding back growth and clouding the near-term outlook.
Industrial production is expected to post only modest growth in coming months, signaling little strength from Germany's manufacturing base.
Labour demand is not expected to turn up even over the summer, underscoring how higher energy costs are spilling into the broader economy.