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October 30, 2020

Mexico | GDP grows 57.4% (annualized rate) in 3Q20 reaching 90.9% of its pre-COVID level

Economic activity regained ground in 3Q20 (12.0% QoQ, 57.4% at an annualized rate) after the reopening of activities that began in early June. With the momentum of the third quarter, the industry reaches 90.4% of its pre-COVID level, while the services sector 91.1%.

October 30, 2020

Spain | incomplete recovery of activity in 3Q20, although better than expected

The advance of the GDP in Q3 (16.7% t/t; -8.7% y/y) exceeded expectations thanks, above all, to positive surprises in investment. Although domestic demand explained most of the growth (-16.1pp t/t; -4.2pp a/a), external demand also added up. The improvement in the hours worked was intense and productivity fell.

October 29, 2020

U.S.| 3Q20 GDP:Strong policy support drives historic rebound in GDP,but headwinds emerging

The U.S. economy showed astounding resiliency in the 3Q20. Strong monetary, fiscal and administrative support from the federal government, less restrictive lockdown measures and stronger impetus to end distancing measures contributed to the rebound.
  • Geography Tags
  • USA

October 29, 2020

Colombia | The path of gradual recovery with great opportunities and challenges

Colombia is already in the process of recovery. Low interest rates and government policies will help reactivate private demand. The fiscal effort should focus on the activities with the most impulse over the others.

October 29, 2020

Peru | Real-time analysis of the impact of COVID-19 on consumption (up to October 26)

In October, total card consumption grew 17,0% compared to the same month in 2019 (10,2% in September), consistent with the beginning of Phase 4 of the economic reactivation (started on October 1st).
  • Geography Tags
  • Peru

October 28, 2020

Colombia | Weekly update BBVA Tracker: Consumption. 28 October, 2020.

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.

October 28, 2020

Spain | Basque Country Economic Outlook 2020

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.

October 28, 2020

Spain | Pension reform and COVID-19

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.