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Investors were cautious, awaiting further progress in U.S.-China trade negotiations. A weaker U.S. retail sales outlook spurred concerns about the resilience of U.S. consumption and its economic outlook.
In this Watch, the structural factors that allow us to explain the cyclical behavior of the Spanish economy during the first half of 2019 are evaluated, and the impact of the main changes affecting GDP.
Three-parts accommodation, one-part trade détente baked into 2020 outlook, but is it enough to avoid a downturn? Fed's Art of War: Let your plans be dark and impenetrable as night, and when you move, fall like a thunderbolt.
The financial markets enter the final stretch of the year with their eyes set firmly on the trade war and Brexit, meaning that the optimism surrounding the favorable resolution of both matters could be the stimulus that the world economy needs to regain momentum.
Sovereign bonds attracted fresh demand amid mounting trade deal uncertainty and concerns over the global economic outlook underpinned by disappointing Asian macroeconomic data.
The Industrial Production (IP) increased by 3.4% yoy in calendar adjusted terms in September, slightly higher than median market expectation. We maintain our GDP growth forecast at 0.3% for now, but the pace of acceleration puts strong upside risks on our expectation around 1%. Our forecast for 2020 remains neutral at 3%.
The country only collects 14% of GDP for tax purposes. Not only does this represent the lowest level of all the countries that are part of the Organization for Economic Cooperation and Development (OECD), but it is also lower than the collection levels of most Latin American countries.