Powerhouse Germany gets own spoonful of austerity

Powerhouse Germany gets own spoonful of austerity

German industry is feeling the most pressure since the peak of the global financial crisis in 2009, putting Berlin in a difficult position as it preaches tough austerity to its neighbors. Russian sanctions are only exacerbating the economic misery.

Industry orders tumbled 5.7 percent in August from July, the fastest since January 2009 when they dropped 7.7 percent, the Germany Economy Ministry in Berlin said Monday.

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