High energy prices are helping to push the manufacturing powerhouse into a significant downturn
Germany is set to fall back into recession after data showed industrial production slumped again in July.
Output of everything from machinery, tools and vehicles to consumer goods and intermediate goods – which are parts used in further manufacturing processes – all tumbled, official figures show.
Industrial output dropped by 0.8pc between June and July, according to Germany’s Federal Statistical Office. Production is now 2.2pc lower than in the same month of 2022.
The ongoing slump raises fears that the eurozone’s biggest economy will drag down the wider currency area.