BERLIN, Sept 14 (Reuters) – Germany’s economic momentum slowed at the start of the third quarter, the economy ministry said in its monthly report on Monday, as a boom in energy-intensive industries fades and domestic consumption weakens amid higher energy prices.
The ministry said the special economic cycle in energy-intensive industries, driven by increased foreign demand tied to the Middle East conflict, appeared to be weakening.
Indicators for private consumption also pointed to declining momentum against the backdrop of persistently high energy prices, it added.
(Reporting by Thomas SeythalEditing by Ludwig Burger)
Comments