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September 16, 2020

Peru | Normalization of activity continued in July, but tends to peter out

Output fell in July by 11,7% YoY, a more moderate print than those observed in previous months, reflecting the gradual resumption of economic activity (phase 3 began in July).
  • Geography Tags
  • Peru

September 11, 2020

Spain | The recovery of employment after COVID-19

As the Spanish economy was still recovering from the effects of the Great Recession, the COVID-19 crisis had a dramatic impact on its labor market, which has been the worst-performing in Europe during said crisis.

September 8, 2020

Mexico | Economic package 2021 based on relatively optimistic GDP and income assumptions

The economic package reinforces the signal of fiscal discipline by establishing a primary balance of 0% of GDP. It is positive that the federal government has proposed that goal instead of the deficit of 0.6% of GDP that it had suggested in Pre-Criteria for 2021.

August 18, 2020

Peru | Output contraction keeps moderating in YoY terms

In June, GDP went down by 18.1% YoY, reflecting the isolation measures implemented since mid-March in order to contain the spread of the coronavirus.
  • Geography Tags
  • Peru

August 15, 2020

U.S. Economic Outlook. Third quarter 2020

U.S. Recovery: To V, or not to be. Fed contemplates their next move. The return of the yield curve targeting. Tracing the impact of CARES Act’s relief payments towards the Covid-19 crisis recovery.
  • Geography Tags
  • USA

August 14, 2020

China | The economy maintains recovery momentum in July but still unbalanced

Economic activity indicators of July including industrial production, fixed asset investment and retail sales all pointed that growth recovery extended in the second half of the year. However, the demand side still lagged behind the supply side.

August 12, 2020

Spain | The Mediterranean regions, protagonists of a more markedly V-shaped recovery

The spread of COVID-19 has had an unprecedented impact on the Spanish economy on various fronts. The lockdown that began in March did not last 15 days as initially thought, but ultimately went on for over 90 days.

August 10, 2020

Spain | Public expenditure during the crisis

Public expenditure in Spain could grow between 10 and 11 percentage points (pp) of GDP in 2020, surpassing 52% of GDP, according to BBVA Research forecasts. This increase is justified by the atypical situation that the Spanish economy is experiencing due to COVID-19.