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The recovery in consumption slowed down in the third week of October, due to a slowdown in the consumption of goods, but recovered 1.5 pp with respect to the September record. At a regional level, Barranquilla's recovery stands out, after being for several months the city that lagged the most.
The economy of the Basque Country may shrink by 10.5% this year, and grow 5.8% in 2021, losing 22,000 jobs. The impact of the crisis was heterogeneous during the first semester, as it is the recovery. Public policies allow to lower job losses, but risks push the perspectives downward.
Recently, the COVID-19 crisis has highlighted how the Spanish pension system's financial sustainability problems are worsening. The Ministry of Social Security is predicting a GDP deficit of 4.1% for 2020.
Leading indicators for the Colombian economy show that recovery is underway after the decline in the second quarter of the year, but work must continue on a structured reactivation policy in conjunction with the public and private sectors.
Job creation was 569,700 (-3.5% YoY). Employees who worked fewer hours than usual due to ERTE or partial unemployment fell to 887,100. The easing of mobility restrictions allowed job searches to take place, which led to a rebound in the active population and, therefore, an increase in the unemployment rate to 16.3%.