8/12, 10:48 AM (Source: TeleTrader)
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Chart for: F NG 11/22

German govt worsens H2 outlook over energy crisis

The German Economy Ministry revised down its economic outlook for the second part of 2022 on Friday, blaming the decline in gas deliveries from Russia that have boosted the ongoing energy crisis across the continent and brought "significantly poorer prospects."

The situation deteriorated further due to persisting supply constraints and the overall uncertainty prompted by the war in Ukraine and the coronavirus pandemic. Responding to soaring costs of living, the federal government announced earlier this week a €10 billion tax relief plan.

The euro strengthened against the dollar over the past month to return to levels seen in early July, however declined 0.24% to $1.02967 at 10:48 am CET.

Baha Breaking News (BBN) / ND