The INE further reduces growth in the third quarter and leaves it almost at zero: GDP increased by 0.1%

• Forecasts The Bank of Spain warns of a hard start to 2023: the economy will suffer "considerable weakness"

The Spanish economy barely grew in the third quarter of the year.

.

This has been certified by the National Institute of Statistics (INE), which this Friday has published the National Accounts and in which, in addition, it rectifies the data that it advanced in October.

At that time, he pointed out that the rise had been 0.2%, which already showed the sharp slowdown suffered by the economy.

But now he reduces that figure even further until it is

.

"The Gross Domestic Product (GDP) generated by the Spanish economy registers a quarter-on-quarter variation of 0.1% in the third quarter of 2022. This rate is 1.9 points lower than that estimated for the second quarter and one tenth lower than the advanced on October 28," explains statistics.

These figures confirm that the Spanish economy already began a cooling process in summer that will last, at least, until next spring.

This is what the Bank of Spain announced this week, which

.

"In the coming months, the dynamics of Spanish activity are expected to continue to be characterized by

," warned the organization led by Pablo Hernández de Cos in its December forecasts.

The reasons: "Inflationary pressures are expected to remain high, financial conditions to continue to tighten, relatively low levels of confidence to persist, and global economic activity to show little dynamism."

What it

, that is, that its central scenario is that two consecutive quarters with negative growth do not follow each other.

Although the general director of Economy and Statistics, Ángel Gavilán, pointed out during the presentation of the aforementioned forecasts that no scenario can be ruled out.

According to the criteria of The Trust Project

Know more