German economy likely to shrink for 'prolonged' period, Bundesbank warns

German economy likely to shrink for
# 19 September 2022 15:34 (UTC +04:00)

The German central bank said on Monday it was increasingly likely that Europe’s largest economy would shrink for a “prolonged” period as Russia throttled energy supplies to the continent, APA reports citing The Guardian.

In its monthly report, the Bundesbank said:

The signs of a recession for the German economy are multiplying.”

It also warned of a “broad-based and prolonged decline in economic output”.

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THE OPERATION IS BEING PERFORMED