“The German economy is already shrinking and things are likely to worsen over the winter,” Germany’s central bank said, according to Reuters.

A financial institution in Germany said that “inflation, which continues to rise and approached 8% in August, as well as uncertainty about future energy supplies and prices, will hurt ‘energy-consuming’ sectors dependent on gas in particular, by affecting their exports. and investment, as well as “consumption” and the service providers on which they depend.

In this context, the Central Bank warned that “supplies will be very difficult in the coming months, after the cessation of Russian gas supplies to Germany, which before the war in Ukraine depended on it by 55 percent, and the Central Bank warned that supplies would be limited.” “extremely difficult in the coming months.” coming months.”

Germany’s central bank also expected “gross domestic product to contract significantly in the fourth quarter” and most likely during the first quarter of next year, without giving specific numbers, after registering a modest 0.1% growth in the second quarter of the year.