<p>The Spanish central bank said on Wednesday it estimated the country’s economy expanded a scant 0.1% in the third quarter from the previous three months due to lower private consumption as the energy shock in Europe hit households.</p><p>“The rise in energy prices, which has gradually spread to an increasing share of goods and services, has reduced the purchasing power of households,“</p><p>The central bank said it also expected growth to slow „very significantly“ in the second half of this year and the first quarter next year, which would lead to a 1.4% growth rate in 2023, down from a previously expected 2.8%.</p><p><a target=“_blank“ href=“https://twitter.com/PriapusIQ/status/1577616941690372096?s=20&t=wITftxxSwEcgElpPFZw3Gg“ target=“_blank“ rel=“nofollow“>Full Reuters Note</a></p>

This article was written by Ryan Paisey at forexlive.com.