COVID-19 latest publications
The labor market continued its recovery process in October, but it slowed down. Job creation was more related to the economic recovery and less to sectoral openings. Moving forward, the slow recovery of the labor market will continue
The GDP of Murcia may shrink by 10% this year and grow by 6% in 2021. Almost 6,000 jobs could be destroyed. The impact of the crisis was heterogeneous in the first half of the year, as was the recovery. Public policies allow for less job destruction, but the risks bias the outlook downwards.
Affiliation increased by 31,600, but did not prevent an upsurge in unemployment (25,300). Discounting negative seasonality, employment grew by 81,000, 24,000 more than in October, while unemployment stopped its downward trend (7,000). The impact of the crisis is still substantial: -790,000 affiliates and 760,000 unemployed.
This Economic Watch assesses the factors that explain the cyclical behavior of the Spanish economy during the COVID-19 crisis. This is done using the data observed up to 3Q20 and the (2020) forecasts by BBVA Research for 4Q20, which are exogenous to the model.
December 1, 2020
Mexico | Despite the pandemic Remittances continue unstoppable: they grew 14.1% in October
In the first ten months of the year, 33,564 million USD have entered Mexico, 10.4% more compared to the 30,395 million USD received in the same period of 2019. Considering the ten months of the year, on average, the flow of Remittances to households in Mexico increased 20.3% in real terms.
Although the second wave of the pandemic is going to have a major impact on the European economy in the last quarter of this year, recent news items have painted a somewhat clearer picture of what is in store for 2021.
General consumption rebounded and reached a real average growth of 10% YoY in the last week. All categories showed progress, with different values. The predictive power of our consumption indicators for economic activity and supermarket purchases is once again confirmed.
Current global circumstances will enable the recovery of the Spanish economy to continue in 2021 and will mean that the speed of this recovery depends almost entirely on how successfully national public policies and the private sector manage their way out of the crisis.