German economy stagnates, finance ministry says

The German economy stagnated in the second quarter of 2022, the monthly report for August from the country’s finance ministry said, according to Reuters. The gloomy figures cited the Ukraine war, rocketing energy prices, the pandemic and supply disruptions. “The outlook for the further development (of the economy) is currently noticeably gloomy,” the report stated. It also noted a “high degree of uncertainty” in future predictions.