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In June 2022, the national and urban unemployment rates were 11.3% and 11.7%, respectively. The seasonally adjusted comparison with respect to the previous month shows an increase in both rates. Job creation slowed and the population outside the labor force increased, generating alerts in the labor market.

Economic activity grew 4.9% YoY in February, accelerating from the previous month (January: 2.9%) but below the market consensus (5,9%), this result was favored by a low base of comparison, as isolation measures were tightened in February 2021 due to the pandemic.

Taking into account a less favorable external scenario, we have revised downwards the growth forecasts for 2022 and 2023, from 2.3% to 2.0% in the first case and from 3.0% to 2.8% in the second.

Economic activity grew 11.8% year-on-year in August, still a high rate due to a low comparison base. A comparison of the 2021 figures with those of 2019 (pre-health-crisis situation) shows that activity grew 1.6% in August (July: 0.4%)

  • Geography Tags
  • Peru

Economic activity grew 12.9% year-on-year in July, a still high rate due to a low comparison base. In an analysis that compares the GDP figures for 2021 with those for 2019 (a pre-health crisis situation), what is observed is that in July of th…

  • Geography Tags
  • Peru

Economic activity grew 23.5% YoY in June, still a high rate due to a low base of comparison. In an analysis comparing GDP figures of 2021 with those of 2019 (a pre-health crisis situation), we observe that in June activity grew 1.1%.

Economic activity grew 47.8% YoY in May, a very positive surprise (Bloomberg consensus: 42.4%). It is worth mentioning that, as has been the case in recent months, this figure hides a low YoY comparison base due to the fact that isolation measures were in force in May 2020.

  • Geography Tags
  • Peru

The economy of La Rioja may have shrunk by 10.2% in 2020, and may grow 5.1% in 2021 and 6.5% in 2022. Public policies and the lower weight of social consumption softened the impact of COVID-19. Consumption and investment will start to push the …

Unemployment in Uruguay reached 10.1% in March, reflecting the effect of measures implemented to contain the outbreak of the coronavirus, in a poorly performing labour market. We expect the unemployment rate to rise to 14.2% this quarter. What …

The Spanish economy has entered into recession as a result of the extraordinary measures put in place to stop the spread of the Covid-19 pandemic. This crisis, however, is expected to be temporary. The activity is expected to grow again from th…

After growing 2.4% in 2018, the economy of Canarias could have grown by 1.5% in 2019. It will advance by 1.1% in 2020 and 1.8% in 2021, reducing the unemployment rate to 19.3% in 2021. This would lead to the creation of 38,000 jobs in the biennium, but the risks are down

After growing 1.9% in 2018, the economy of Asturias could have grown by 1.7% in 2019. It will advance by 1.2% in 2020 and 1.4% in 2021, and will add around 3,000 jobs in the biennium. The average GDP pc annual growth rate will be 1.7%, 0.3 p.p. above the Spanish average, due to the worst regional demographic evolution