BBVA Research economists say that despite U.S. GDP showing a healthy rebound in the third quarter, the die has been cast after two consecutive quarters of weak growth. They expect the GDP growth rate in 2016 to be 1.6 percent, the lowest in seven years.
Fundamental transformations are underway in the banking and financial industries as a result of the unstoppable technological innovation they face. Demand for digital products and services is on the rise and consumers are adopting them, with greater and greater ease. This significant change in customer habits and in the use of business channels has numerous implications for banks, especially regarding the need to attract people with strong technical skills.
Over the past eight years, we have seen markets panic on a number of occasions. Normally, there was a good reason for the sudden market crashes. Let’s take a look at the periods of greatest market volatility and analyze the central banks’ responses to reassure investors.
Having a close relationship with your employees, challenging them every day and creating a coworking-type workspace are some of the keys managers should bear in mind when managing a professional team formed by millennials.
The BBVA Bancomer Tower is not just the colossus that welcomes passersby to Paseo de la Reforma - the city’s most prominent avenue, where also the pre-Hispanic and contemporary Mexicos meet – but it is also a prime example of architectural creativity.
The auto industry is one of the industries with the greatest growth in the Mexican economy because everything from autoparts production to car assembly and its connection to the international market have performed well.
In previous years, we observed growth in this industry and estimated that vehicle production would increase 1,5% in 2016 compared to the previous year, despite a tough start to the year with 3,1% declines in the first half of the year. This represents an increase of approximately 51.000 units. Next year, production could increase to just over 4 million units, which would mean a 17,4% jump in 2017. This would once again put the industry at the forefront of the Mexican economy.
Mexico is one of the largest recipients of remittances in the world. In 2015 it received nearly $25 billion in remittances, the fourth highest in the world after India ($72 billion), China ($62 billion) and the Philippines ($30 billion).
The structural reforms approved in Mexico in 2013 will allow growing the potential growth rate in the medium term. The measures are intended to make the economy more competitive. If their implementation process is adequately concluded, they may add up to one percentage point to the potential growth of the country.
Mexico’s banking market is in the middle of an expansionary period due to demographic factors and the macroeconomic stability that has been attained over recent years. This has produced a growing demand for credit in several different sectors, permitting a positive financing outlook that could reach the equivalent of 40% of Mexico’s Gross Domestic Product (GDP) in the coming years.
BBVA Research confirmed that the Spanish economy was still growing in the early weeks of the second half of 2016, estimates that Q3 2016 could become the fifth consecutive quarter of growth at a quarterly rate of about 0.8%. Jorge Sicilia, Chief Economist of BBVA Group and Director of BBVA Research and Rafael Doménech, Head of Economic Analysis of BBVA Research shared these findings during the presentation of the Spain Economic Outlook report.