The BBVA Research team has published two reports: its U.S. Regional Outlook for July, highlighting key factors impacting regional economies, along with its economic analysis of the U.S. employment report. The COVID-19 pandemic continues to impact job growth and other economic indicators.
According to last week's data on credit and debit card spending, consumption has recovered in regions where pandemic restrictions have been lifted. This improvement is observed in the U.S., Turkey and Spain, and in recent days in Latin America. In Spain, increased spending has been seen in those regions that first moved into phase two of the country's reopening. BBVA Research points out that there was also an increase in ATM cash withdrawals.
The BBVA Research team has published its unemployment insights for May 2020, noting that the economy appears to have reached bottom and that the recovery is underway.
The relaxation of pandemic restrictions has given consumption a boost in those Spanish regions that first moved into phase two of the country’s reopening. BBVA Research's weekly analysis measuring debit and credit card spend reveals that for regions remaining in phase one, previous consumption improvements (coming out of the transition from phase zero to one) stalled, with declines last week of May standing firmly at between 10 and 15 percent.
Fewer mobility restrictions are beginning to bear fruit and some countries are starting to show signs of recovery, although at different speeds. The U.S. Sunbelt and Turkey are leading the way. In Spain, lifting the lockdown restrictions in different phases is leading to unequal recovery among the regions. These are the main conclusions of a weekly study that analyzes the dynamics of expenditures in the countries where BBVA operates during the COVID 19 pandemic.
The BBVA Research team has published its Economic Outlook for second quarter 2020, offering a look at how the U.S. economy might recover in a post-COVID world.
The BBVA Research team has published its U.S. Macroeconomic Pulse for April 2020, offering insight into the economic outlook as well as macro fundamentals.
BBVA Research has used big data technologies to examine the impact of COVID-19 on Spanish consumption. The conclusions reflect a 49 percent average decline in consumer spending. The analysis has led to a collaboration between researchers at BBVA Research, the University of Cambridge, the Imperial College of London, and the University of Edinburgh. The use of anonymous transactional data to gain a real-time reflection of reactions to the crisis and economic policies was justified for decision-making purposes.