Searcher
Marcial Nava
Marcial Nava
Principal Economist
Houston

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

April’s job creation was shockingly below expectations. The unemployment rate increased slightly as more people entered the labor force encouraged by vaccinations and reopenings. Overall, labor market conditions suggest that the recovery is still vulnerable.
The economy could experience a period of bonanza not seen in decades. Strong recovery boosted by successful vaccination campaign, reopening of services, low interest rates, and massive fiscal stimulus. Flat Phillips curve and elevated slack limit inflationary pressures.
March saw an addition of 916,000 jobs to nonfarm payroll and a drop in the unemployment rate by 0.2pp to 6.0%. This high uptick in the employment situation was brought about by a successful vaccination campaign, the ongoing reopening of the economy and massive fiscal support.