(Reuters) – Spain’s economic growth slowed down sharply to 0.2% in the third quarter from the previous three-month period when gross domestic product expanded 1.5%, preliminary data from the National Statistics Institute showed on Friday.
Analysts polled by Reuters had expected GDP to grow 0.3% quarter-on-quarter as high inflation and rising interest rates weighed on consumption across Europe.
On an annual basis, Spain’s third-quarter economic output expanded by 3.8%, compared to a Reuters poll of 3.9%. In the second quarter, annual growth totalled 6.8%.
(Reporting by Joanna Jonczyk-Gwizdala, Editing by Andrei Khalip)
