Searcher
Marcial Nava
Marcial Nava
Principal Economist
USA

Marcial Nava began his banking career with BBVA in 2004, when he joined the Economics Research team in Mexico City. In 2007, he relocated to Houston to focus on economic analysis of the U.S. and the Sunbelt states.


In his current role as Principal Economist at BBVA Research USA, Marcial is responsible for the analysis of strategic industries, including energy and automotive. He regularly participates in specialized forums, and has served as guest columnist for newspapers in Spain and Latin America.


Marcial holds a Bachelor of Science degree in Economics from the Center of Research and Economics Teaching in Mexico City, and a Master of Business Administration from Rice University.

Latest publications

In July, the current economic expansion will reach 121 months, becoming the longest in modern history. Barring any shocks, inflation-adjusted GDP will average more than $21T in 2019 and by the end of the year real GDP per capita will surpass $58K.
New vehicle sales are projected to decelerate from 2018 levels. Robust economic growth has been the main driver of auto sales, but affordability is deteriorating while the impact of previous tax cuts is diluting. Going forward, higher interest rates and a higher supply of “off-leasing” vehicles will exert downward pressures on demand for new vehicles.
OPEC+ cuts are tightening the market and driving up prices. The deal could be extended for the entire year. Sanctions to Venezuela and Iran could tighten supply further. However, OPEC has significant spare capacity to offset upward price pressures. In 2019, U.S oil production will expand further while substantial transportation capacity will be added.