Joseba Barandiaran is a economist in BBVA Research. He is a member of the Spain Unit econonomists´ team leaded by Miguel Cardoso, and works on regional analysis of Spain autonomous regions.
Before Joseba Barandiaran worked on several positions for BBVA´s Risk Unit, from Market Risk to Structural Risks including the team leadership of the Liquidity Risk Unit and coordination staff of Latin American treasury desks.
He got his undergraduate degree on Economics at the Universidad del País Vasco-Euskal Herriko Unibertsitatea in 1996 and a Master´s degree in Economics an and Finance by the Centro de Estudios Monetarios y Financieros (CEMFI) in 1998. He is a member of the Governing Council of the Economists´ Basque Association.
Spending with BBVA credit and debit cards or BBVA POS terminals in April were 13% in relation to the same month of 2019, 5 points less than in March. The growth in spending with Spanish cards, both face-to-face (10%) and online (128%), offset the adjustment in foreign card transactions.
The 2020 lockdown resulting from the COVID-19 pandemic cost nearly one million jobs between February and May, a figure similar to what was lost between Aug-08 and Mar-09. In contrast, the measures adopted in 2020 have allowed for a smaller impact on employment than that observed in the GDP.
The greater impact of restrictions on domestic demand, the reduction of consumption on domestically produced goods and services (in particular, social consumption) and the deployment of the tourism sector introduce a downward revision of growth in all the Autonomous Communities and especially on the Mediterranean coast.