Economic activity

Economic activity latest publications

July 21, 2022

Argentina Economic Outlook. Third Quarter 2022

The deviations from the targets agreed with the IMF triggered a deterioration of expectations and the economic situation, deepened by political tensions. Economic activity will slow down more than expected in the coming quarters.

April 12, 2022

Turkey | Activity in q/q contraction as of April

Industrial Production (IP) surprised on the upside, increasing 13.3% yoy in calendar adjusted terms (vs our expectation of 10% and consensus of 7.5%). We expect GDP growth to be 2.5% in 2022.

January 13, 2022

Turkey | Strong activity indicators in November

Industrial Production (IP) increased by 11.4% yoy in calendar adj. terms (14.7% yoy in raw series) in November higher than the market expectation of 8%. We expect 2022 GDP growth to be realized as 3.5%.

October 3, 2021

Reforma eléctrica, aprobada, pone en riesgo competencia, inversión y medio ambiente

El pasado jueves 30 de septiembre el presidente Andrés Manuel López Obrador envió a la Cámara de Diputados una iniciativa de reforma constitucional en materia eléctrica consistente en fortalecer la participación y atribuciones de la Comisión Federal de Electricidad (CFE).

September 2, 2021

Mexico | Consumption loses steam in 3Q21: the reopening boom dissipates

In August, the BBVA Consumption Index fell (-)1.9% MaM (sa), which adds to the low growth of July (0.4%), pointing to a slowdown in pent-up demand in 2H21.

May 31, 2021

Turkey | The economy grew by 7% in 1Q21

Turkish economy grew by 7.0% in yearly terms in 1Q21 and 1.7% in quarterly terms implying no moderation compared to 4Q20. Current strong momentum, ongoing credit growth and positive global outlook put upside risks on our prudent 2021 growth forecast of 5%.

May 11, 2021

Uruguay Economic Outlook 2021

The global economy keeps recovering in spite of the uncertain epidemiological context. World GDP growth should be 5.9% in 2021. The worsening health situation slows down economic activity in Uruguay, which will grow less than expected in 2021.

April 28, 2021

Argentina Economic Outlook. Second quarter 2021

After falling 9.9% in 2020, the economy is recovering faster than expected. Nevertheless, the rebound is heterogeneous across sectors. The health situation remains challenging, in a 2021 also marked by the mid-term elections in October.