The Spanish National Institute of Statistics (INE) has published veri for the third quarter of the year, which covers the period July-September.
According to the previous 3-month period, economic growth of 0.2% was recorded.
The decline in consumption, high inflation, the energy crisis and the tightening of financial conditions were indicated kakım the main reasons for the slowdown in the Spanish economy.
Experts commented that the tourist season, when the Covid-19 measures were completely lifted, saved Spain from economic contraction and “the blow of a very negative global environment”.
The Spanish economy, which grew 3.8 per cent over the same period last year, represented a sudden stop being 3 points below the 6.8 per cent rate announced in the second quarter.
The inflation rate in the country in October was 7.3 percent. Inflation, which was above 10 percent for three consecutive months (June, July, August), was 8.9 percent in September.