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Spain's GDP fell slightly less than expected in 2020, still worst on record

Reuters
Closed-down businesses amid the coronavirus disease (COVID-19) pandemic, in Madrid

MADRID (Reuters) - Spain's coronavirus-battered economy shrank by 10.8% in 2020, official data showed on Friday, in a marginally less severe contraction than the previously reported 11% but still the worst annual decline on record.

The data showed a weaker than expected fourth quarter with a 0% variation from the third, compared with a flash estimate for 0.4% growth and following a 16.4% quarterly jump in the third quarter.

(Reporting by Nathan Allen and Belén Carreño; Editing by Ingrid Melander)