Germany’s economic momentum slows as energy industries and consumption weaken

  • Germany’s economy ministry reported slowing momentum at the start of the third quarter.
  • Energy-intensive industries appeared to lose momentum as foreign demand linked to the Middle East conflict weakened.
  • Private consumption indicators declined amid persistently high energy prices, the ministry said.

Germany’s economic momentum weakened at the start of the third quarter as the boost to energy-intensive industries from increased foreign demand tied to the Middle East conflict began to fade. The economy ministry also said indicators for private consumption pointed to declining momentum amid persistently high energy prices.

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