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In this publication you will find, on a weekly basis, our selection of the most relevant news regarding financial regulation.
The sale of homes and the signing of permits suffered a notable correction during the months of confinement. This resulted in a drop in residential prices in 2Q20 and 3Q20, the first time since 2015. The correction could continue in 2021, although a recovery is possible towards the second half of the year.
December 4, 2020
Spain | Impact of COVID-19 on consumption in real time and high frequency in nov-20
Spending with BBVA credit and debit cards or BBVA POS terminals fell by -6% year-on-year in November due to the deterioration in face-to-face purchases (-12%), both with Spanish (-8%) and foreign (-70%) cards. The rise in online transactions (13%), driven by Black Friday, limited the reduction in consumption last month.
In this Working Paper we analyze the stabilizing role that economic policies have played during the current COVID-19 crisis in Spain.
The slowdown of banking intermediation lingers after the sharp increase of March and April, as the economic recession takes its toll on the economy. However, to the extent that financial conditions have eased, the prices of domestic assets have recovered and non-banking sources of financing to firms have resumed.