Recession clouds gather in Germany, Europe’s largest economy

FRANKFURT, Germany (AP) — Europe’s largest economy is sending recession signals. Germany’s key future indicator has pointed down for the fourth month in a row as high inflation fed by astronomical natural gas prices undermines consumer pricing power and imposes heavy costs on businesses. The Ifo index dropped to 84.3 in September from 88.5 in August. That is its lowest level since the global financial crisis more than a decade ago. High inflation caused by exorbitant natural gas prices is taking away consumers’ spending power. And it’s not just Germany. Recession calls have multiplied for Europe as a whole later this year and early next year.