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In 2023, there was a significant reduction in poverty, with 33% of the population classified as poor, compared to 36.6% in 2022 and 39.7% in 2021, and there was an important progress in closing some poverty gaps.

Excluding positive seasonality, both employment (0.4% QoQ) and hours worked (0.5% QoQ) increased, but at a slower pace than Social Security affiliation (0.8% QoQ). Additionally, both the temporary employment rate and the unemployment rate dropped (to 15.9% and 11.6%, respectively).

In 2025, the Galician economy could report a 6.4% increase in GDP per capita when compared with 2019, the largest advance within Spain. This brings the autonomous region one step closer to converge with the country as a whole.

In a particularly turbulent environment such as this, it is worth highlighting the calm, rationality, consistency as well as humility with which central banks are implementing their monetary policy.

Since 2021 housing starts have been lower than homes created. Factors that could limit housing supply include a shortage of land ready to start new developments, regulatory uncertainty and labor shortages. Measures are needed to boost residenti…

The housing shortage is a complex problem, which is the subject of increasing attention and justified social, economic and political concern. Large segments of the population suffer from difficulties in accessing residential rental housing or homeownership, especially in large cities and high-demand areas.

Savings in Colombia have decreased, affecting investment in key sectors. Increasing disposable income and savings is crucial to fostering economic growth. Policies should focus on promoting savings and productive investment.

The economic activity decelerates further especially driven by the weakening in industry. Aggregate demand remains stronger than supply, keeping inflationary pressures alive. Risks would be on the upside for our 2024 GDP forecast of 3.5%, consi…

As expected, the ECB leaves its monetary policy unchanged and leaves the door open for a rate cut at the next meeting in September, awaiting for more data on wages, profit margins and productivity that confirm its inflation outlook.

The BBVA Multidimensional Manufacturing Indicator decreased (-)3.8% YoY in June (the sixth consecutive drop so far this year), confirming the prolonged deceleration of the sector.

The EU's aspirations for sustainability, competitiveness, and resilience hinge on its ability to close the innovation gap with the US in disruptive technologies. This requires a dual approach: significantly increasing targeted public funding and creating a more inviting environment for private investment.

National inflation in June was 4.6% MoM (271.5% YoY) and accelerated with respect to the previous month (4.2% MoM) for the first time in the Milei administration but due to the disparate behaviour of regulated prices in both months. Even so, the value was lower than expected.