Francisco Javier Morales
Francisco Javier Morales
Principal Economist

• MA in Economics, University of Kent at Canterbury, UK (1980)

• Diploma in Dynamic Econometric Models, ITAM, Mexico (2003)

• BA in Economics, Universidad Iberoamericana, Mexico (1979)

• Professional Experience:

• BBVA Research Mexico since 1999

• Deloitte Consulting (Information Center)

• McKinsey & Co. (Information Center)

Latest publications

In January 2020, the nominal annual growth rate of the balance of the current credit portfolio granted by commercial banks to the non-financial private sector was 5.3% (2.0% real). This growth was slightly higher than the previous month (5.1%), but significantly below that recorded in the same month of 2019 (10.0%).
At the end of the first half of 2019, the balance and number of total credit card customers increased. Payroll credits recovered dynamism in 2019 due to an increase in the amount of loans granted. The value of production in the construction industry fell by 4.3% in 2019.
In December 2019, the nominal annual growth rate of traditional bank deposits (demand + term) was 5.5% (2.6% real), showing a slight recovery from the result observed in November (4.7%), but insufficient to reverse the slowdown observed as of August 2019.