Le Lézard
Classified in: Business, Covid-19 virus
Subjects: SVY, ECO

BBVA Research weighs in on U.S. economic recovery from the infection


HOUSTON, March 30, 2020 /PRNewswire/ -- According to the publication released from BBVA Research, When will the U.S. economy recover from the infection?, the experience of countries that have transitioned beyond the worst phase of the pandemic suggest that the number of coronavirus cases in the U.S. could peak in the spring or early summer.

The supply-side shock brought about by the pandemic is forcing factories to close, resulting in cutbacks in the provision of products and services, as well as lower labor force participation and productivity. That being said, advances in technology have increased firms' and employees' ability to operate remotely and remain productive, while innovations in on-line delivery and direct to consumer shipping supply chains (e.g. Amazon) could soften part of the impact on the supply side for the consumer, according to the BBVA Research team.

The paper's authors, BBVA chief economist Nathaniel Karp, along with senior economists Boyd Nash-Stacey and Marcial Nava, also noted that monetary and fiscal policy responses, while not well equipped to contain the effects of supply-side shocks, can be effective at mitigating the drop in demand and the stress in the financial sector. 

Karp added that, from a behavioral perspective, COVID-19 could have long-term implications, including increased reliance on virtual technology for activities such as e-schooling and telecommuting. Innovation and entrepreneurship could also expand in such areas as food security, smart transportation, healthcare and sustainability.

The report goes on to note potential impacts to government, globalization, and the flow of goods and services. For more details, read the full report here

Learn more about BBVA Research here and BBVA USA 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 bbva.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 and 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 BBVA Garanti. BBVA's 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. BBVA's 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 329 in Texas, 89 in Alabama, 63 in Arizona, 61 in California, 45 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


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