January 15, 2021
Berk Orkun Isa
Berk Orkun Isa works for Garanti BBVA as an economist since March 2020. He currently focuses on big data projects, economic modeling and quantitative analysis, as well as advanced analytics.He obtained his MSc degree in economics from Tilburg University and BA degree in Economics from Ankara University. He is currently pursuing an MBA degree. Prior to this role, he worked for liquidity risk management unit of Garanti BBVA.
The COVID-19 impact on consumption was much more intense during the first wave than in the rest of the year 2020. By sector of activity, the impact of Covid-19 has been heterogeneus too. Food and health was the most beneffited ones and tourism related sectors the most damaged.
Industrial Production (IP) grew by 11% yoy in cal. adj. terms in November, confirming a growth level in the first 2 months of 4Q20 (9%) similar to the strong 3Q20 performance (8.5%). We expect GDP growth to materialize near 5% in 2021, benefiting from a sizable contribution from external demand.
December 17, 2020
Global | The COVID-19 impact on Consumption in Real Time and High Definition: Dec 17th.
The Covid-19 impact on consumption has been significant in 2020 with uneven recovery paths and sectorial effects by country. Consumption growth rates moderated during December in most of the countries given the second wave and some new restrictions. The impact of this second wave is different from the first one.