Alvaro Ortiz
Alvaro Ortiz
Chief Economist

Álvaro Ortiz is the Head Economist for Big Data at BBVA Research. He manages the unit implementing the Big Data analysis on Economic, Social and Geopolitical Issues.  He also maintains the position of Chief Economist Turkey. He previously worked as Chief Economist Europe, Asia and Middle East at Cemex, Deputy Director of Economic Analysis at Repsol YPF and Head of Latin America at the Economic Research department of Banco Santander.

Mr Ortiz holds a PhD in Economics (Universidad Autónoma de Madrid) and Advanced Diploma in International Economics and Policy Research by The Kiel Institute for World Economics (Germany).

He has published in several academic journals as CEPR Discussion Papers,Economia the Journal of Lacea, Bank of Spain Working Papers, Opec Energy Review, The Service Studies Journal and Moneda y Credito. He has collaborated in some international Newspapers as The Economist, Financial Times and relevant local newspapers as El País, Expansion, El Economista…

He has presented his works at the Bank of England, Bank of Spain, European Central Bank, NBER (forthcoming) and participated in conferences or sessions organized by international Think Tanks as IIF, The Atlantic Forum,  Brueguel, Wilton Park, Salzburg Global Seminar, ME Days.

Latest publications

The high uncertainty triggered by the Covid-19 crisis has stressed the need to monitor the evolution of the economy in “real time”. We developed a set of Big Data indicators to track Investment in Real Time and High Definition, extending the analysis to assess the business cycle and complementing our tracker of consumption.
The recovery is uneven across sectors and countries. Positive growth in USA, Turkey, Mexico, Peru and Argentina. Spain registered negative growth rates at the end of August, while Colombia continued stagnant. The gap between e-commerce growth and physical purchases remained.
Consumer prices increased by 0.86% mom in August, leading the annual inflation to stay almost stable at 11.77%. Annual core inflation rose to 11.03% from 10.25%, reflecting gradual exchange rate pass-thru and the impact of the demand pull factors. We expect the headline inflation to be 11% at the end of 2020.