German Economy to Take Hit from Iran War during Q2, Ministry Says

The skyline with the banking district is seen during sunset in Frankfurt, Germany, February 27, 2024. REUTERS/Kai Pfaffenbach
The skyline with the banking district is seen during sunset in Frankfurt, Germany, February 27, 2024. REUTERS/Kai Pfaffenbach
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German Economy to Take Hit from Iran War during Q2, Ministry Says

The skyline with the banking district is seen during sunset in Frankfurt, Germany, February 27, 2024. REUTERS/Kai Pfaffenbach
The skyline with the banking district is seen during sunset in Frankfurt, Germany, February 27, 2024. REUTERS/Kai Pfaffenbach

Economic growth in Germany, which was just 0.3% in the ‌first quarter, ‌will likely take ‌a ⁠significant hit from ⁠the effects of the Iran war ⁠in the second ‌quarter, ‌the federal ‌economy ministry ‌warned on Friday.

"Rising prices, supply chain ‌issues and uncertainty are weighing on ⁠sentiment ⁠among businesses and households," the ministry said in its monthly report according to Reuters.