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German economic outlook gloomy, finance ministry says

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Reuters UK

BERLIN (Reuters) – The economic outlook for Germany, Europe’s largest economy, is gloomy due to energy price rises and supply chain disruptions, the Finance Ministry said in its August monthly report, published on Friday. The German economy stagnated in the second quarter, with the war in Ukraine, soaring energy prices, the pandemic and supply disruptions bringing it to the edge of a downturn. “The outlook for the further development (of the economy) is currently noticeably gloomy,” the ministry said in the report, adding that it was marked by “a high degree of uncertainty”. “The significantly…

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