German economic growth will nearly halve in 2017 as Brexit and other risks hit exporters, although it predicted a pick up to 1.9 percent this year due to strong domestic demand. “The German economic engine is likely to start stuttering for a while,” DIW said in a statement. Source: Reuters
It is less than two months since U.S. President Donald Trump travelled to Texas to declare that the U.S. energy industry, laid low by this year’s oil price crash, was back on its feet. “We’re OK now,” the president told the assembled crowd.
But bankruptcy numbers released this week tell a different story. Another 16 upstream U.S. oil and gas companies — producers and service providers — hit the wall in August, the same number as in July, according to law firm Haynes and Boone. Source Financial Post
The Bank of Italy said Italy’s public debt hit a new high of 2,560.5 billion euros in July, up 29.9 billion with respect to June. Source Ansa
Austria has said it still supports the Nord Stream 2 gas pipeline, despite growing reservations about the project in parts of Europe following the poisoning of Russian opposition figure Aleksei Navalny. Source Radio Free Europe
