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 BBVA news visit, www.bbva.com and the U.S.
Newsroom.
Additional news updates can be found via Twitter and
Instagram.
For more financial information about BBVA in the U.S., visit
bbvausa.investorroom.com.
About BBVA
BBVA Group
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.
BBVA USA
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.
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SOURCE BBVA USA