Economy
Economy
Onur Genç, BBVA CEO:
The BBVA Research team has published its Economic Outlook for fourth quarter 2020, anticipating that the pandemic and upcoming election could add noise to the short-term outlook even as medium-term prospects improve.
The U.S. labor market continued to improve in August, according to the latest economic analysis from the BBVA Research team.
The Banker has named BBVA Best Transaction Bank in Latin America for second year in a row. The U.K. magazine, a Financial Times group publication, underscored the bank's innovative approach in the region, which allowed customers to continue accessing the bank’s services seamlessly during the pandemic.
BBVA Executive Chairman Carlos Torres Vila has described the European recovery plan (Next Generation EU) as “a landmark opportunity for Spain.” He asserted that “if the aid is complemented by appropriate reforms, Spain could put an end to its elevated structural unemployment, which has hovered above 16 percent over the last four decades, while laying the foundations of an economy based on green and digital growth, a data-driven economy.”
The BBVA Research team has published its Economic Outlook for third quarter 2020, as the U.S. faces one of its most challenging environments in modern history.
BBVA Research published its July auto sales chartbook, noting vehicle sales exceeded expectations for the quarter, resulting in an upward revision to the economists’ annual forecast. However, sales were still 33.7 percent below levels observed in 2Q2019, the worst decline since 2Q09.
The BBVA Research team published its economic analysis of the drop in gross domestic product for second quarter 2020, noting it is the steepest decline in over-the-quarter growth since 1937, in the aftermath of the Great Depression.