Investing.com – Spain’s economy grounded to a halt in the third quarter, adding to fears the country will slip back to a recession, official data showed on Wednesday.
In a report, Spain’s National Statistics Institute said the country’s gross domestic product was flat in the three months to September, disappointing expectations for growth of 0.2%.
Spain’s economy grew by an unrevised 0.2% in the previous quarter.
Year-on-year, Spanish GDP grew at an annualized rate of 0.8%, broadly in line with expectations, after rising at a rate of 0.7% in the previous quarter.
Following the release of that data, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.48% to hit 1.3475.
Meanwhile, European stock markets were mixed after the open. The EURO STOXX 50 added 0.45%, France’s CAC 40 edged 0.3% higher, Germany's DAX slipped 0.15%, while the FTSE 100 declined 0.2%.
In a report, Spain’s National Statistics Institute said the country’s gross domestic product was flat in the three months to September, disappointing expectations for growth of 0.2%.
Spain’s economy grew by an unrevised 0.2% in the previous quarter.
Year-on-year, Spanish GDP grew at an annualized rate of 0.8%, broadly in line with expectations, after rising at a rate of 0.7% in the previous quarter.
Following the release of that data, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.48% to hit 1.3475.
Meanwhile, European stock markets were mixed after the open. The EURO STOXX 50 added 0.45%, France’s CAC 40 edged 0.3% higher, Germany's DAX slipped 0.15%, while the FTSE 100 declined 0.2%.