HOUSTON, Feb. 19, 2020 /PRNewswire/ — The BBVA Research team has published its Economic Outlook for first quarter 2020, offering a look at a number of timely events and their anticipated economic impact.
The report provides a high level overview of the risks and rewards created by the digitization of the global economy, noting both expanding connectivity and higher vulnerability to potential cyberattacks. The outlook notes that Federal Reserve Chair Jerome Powell recently indicated that one of the main risks to the financial system is cyberattacks. Damages from cybercrime could reach $6 trillion by 2021, significantly higher than other major crimes like drug trafficking, pilferage and maritime piracy.
The quarterly outlook also delves into the potential impact of the Coronavirus and Boeing’s groundings, both creating headwinds for the longest expansion in U.S. history. In addition, the report notes that financial volatility could remain elevated during the U.S. election cycle and will likely ebb and flow with election polling data.
In addition, the quarterly outlook contains a comprehensive view of the U.S. housing market, performance assessments by industry, and a detailed analysis of the impact of presidential tweets on the economy.
Led by Nathaniel Karp, BBVA’s research team analyzes the U.S. economy and Federal Reserve monetary policy. For its analyses, the economists create models and forecasts for growth, inflation, monetary policy and industries. The Economic Research team also follows a variety of issues that affect the Sunbelt states where BBVA USA operates. Follow their work on Twitter @BBVAResearch and @BBVANews_USA.
Read the full report here.
See the complete library of BBVA Research publications here.
For more financial information about BBVA in the U.S., visit bbvausa.investorroom.com.
BBVA (NYSE: BBVA) is a customer-centric global financial services group founded in 1857. The Group has a strong leadership position in the Spanish market, is the largest financial institution in Mexico, it has leading franchises in South America and the Sunbelt Region of the United States. It is also the leading shareholder in Turkey’s Garanti BBVA. Its purpose is to bring the age of opportunities to everyone, based on our customers’ real needs: provide the best solutions, helping them make the best financial decisions, through an easy and convenient experience. The institution rests in solid values: Customer comes first, we think big and we are one team. Its responsible banking model aspires to achieve a more inclusive and sustainable society.
In the U.S., BBVA is a Sunbelt-based financial institution that operates 641 branches, including 330 in Texas, 89 in Alabama, 63 in Arizona, 61 in California, 44 in Florida, 37 in Colorado and 17 in New Mexico. The bank ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (6th). In the U.S., BBVA has been recognized as one of the leading small business lenders by the Small Business Administration (SBA) and ranked 8th nationally in terms of dollar volume of SBA loans originated in fiscal year 2018.
SOURCE BBVA USA