German industrial output weighed down by energy costs | Fin24

German industrial production fell in August, official figures showed on Friday, with energy-intensive sectors hit hard as Russian gas cuts exact a heavy toll on Europe's top economy. | News24_Business

The manufacturing sector, the pillar of the German economy, produced 0.8 percent less in August compared with the previous month, according to preliminary data from federal statistics agency Destatis.

Europe's economic powerhouse is being squeezed as energy prices soar after Russia shut off gas supplies amid tensions over the Ukraine war, and warnings are mounting of a looming recession. Supply bottlenecks due to continued disruptions from the coronavirus pandemic and the Ukraine conflict still pose a problem for many manufacturers, Destatis said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

News24 /  🏆 4. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

LISTEN | Travellers must ‘know risks’ and move ‘sensibly’ when visiting SA — German embassyStakeholders have weighed in on the murder of a German tourist, including the German embassy.
Read more »

Body of slain German tourist to be repatriated on ThursdayThe body of a German tourist, killed in a botched hijacking outside the Kruger National Park, will be repatriated to his home country on Thursday.
Read more »

Well-known Limpopo comedian gets 10 years for assaulting girlfriend | The Citizen🏃Popular Limpopo comedian, Ntambudzeni Rasendedza, sentenced to 10 years imprisonment for assaulting his girlfriend 😲Catch up on what happened: GBV
Read more »

German tourist's body to be repatriated on Thursday night | The Citizen💔The body of German tourist Joerg Schnarr, who was murdered near the Kruger National Park, will leave South Africa tonight. Catch up on the story here: germantouristmurder
Read more »

Journalist's suspension lifted: misconduct couldn't be establishedJournalist's suspension lifted: misconduct couldn't be established: One of the journalists suspended by City Press on August 30 has been reinstated
Read more »