Economic crisis lingers, German industrial product

Aihucha News, September 7: Germany’s industrial output fell again in July, further dragging down the growth of Europe’s largest economy and casting a shadow over the start of the third quarter. Production fell 0.8 percent from June, according to the Bureau of Statistics. German factories are suffering a prolonged period of weakness amid sluggish demand, worker shortages, rising interest rates and lingering fallout from last year's energy crisis. That has weighed on the broader economy, which is expected to be the only G7 country to contract this year. Analysts at the Kiel Institute predicted on Wednesday that Germany's economy would slump again this quarter after a winter recession and a three-month period of stagnation to June. The drop in output in Germany came a day after data for July showed the country's factories saw the biggest drop in orders since the 2020 pandemic.