Europe Industrial Profits Soar Despite Inflation, Gloomy Outlook
- Manufacturers profit from passing along higher prices
- Profits contrast with bleak outlook for Europe’s economy
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As Europe edges toward a full-blown energy crisis and recession, its manufacturing giants are raking in the cash.
Luxury-car leader Mercedes-Benz joined Europe’s biggest chemicals maker BASF, Swiss building-materials producer Holcim, shipping company Hapag-Lloyd and others to report a jump in profit and raise earnings forecasts for the year.