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"Although most economic indicators remain weak, the pace of economic contraction is slowing down and given the potential impact of the stimulus package, output is likely to be positive in the second half of the year," said BBVA Compass Chief Economist Nathaniel Karp. "The Sunbelt Region is poised to benefit greatly from the global recovery. A key element of differentiation for the Sunbelt is economic diversification. A strong labor market coupled with a significant share of exports that are high value-added and intended for fast-growing economies support higher potential economic growth rates than the rest of the country."
BBVA Compass' second U.S. Regional Watch teleconference and webcast will take place from the campus of The University of Texas at Austin. The presentation will be conducted by Nathaniel Karp, BBVA Compass Chief Economist with supporting commentary from Bruce Kellison, Associate Director, Bureau of Business Research, of the IC2 Institute. A live question and answer session will follow the presentation.
"The BBVA Compass U.S. Regional Watch provides a timely update on key economic indicators and relevant discussions of current economic issues," Bruce Kellison, Associate Director, Bureau of Business Research, of the IC2 Institute at The University of Texas at Austin. "We are excited to continue our long-standing relationship with BBVA Compass as a contributor to the U.S. Regional Watch and are pleased to host this quarter's event on campus at UT."
Interested parties may access the call via either the Internet or telephone. Internet access to the call and to the supporting slide presentation will be available through BBVA Compass' web site at www.bbvacompass.com. Click on the link labeled U.S. Regional Watch to access the webcast and slide presentation. For telephone access, dial 877-833-0673 (domestic) or 706-758-5063 (foreign), conference ID 15513992. Telephone participants are requested to dial in 10 minutes prior to the start of the call to allow time for all participants to log in.
A replay of the teleconference will be available through BBVA Compass' web site and by telephone at 800-642-1687 for domestic calls and 706-645-9291 for foreign calls (conference ID 15513992) until midnight on July 7, 2009.
ABOUT BBVA COMPASS
BBVA Compass is a Sunbelt-based financial institution that operates 578 branches including 306 in Texas, 92 in Alabama, 77 in Arizona, 45 in Florida, 36 in Colorado and 22 in New Mexico. BBVA Compass is among the top 25 largest banks in the U.S. based on deposit market share and ranks among the largest banks in Texas (4th) and Alabama (3rd).
BBVA Compass is a subsidiary of Compass Bancshares, Inc., a wholly-owned subsidiary of BBVA (NYSE: BBV | Quote | Chart | News | PowerRating) (MAD: BBVA). BBVA is a financial services group with more than $750 billion in total assets, 48 million clients, 8,000 branches and approximately 105,000 employees in more than 30 countries. BBVA ranks among the top seven largest financial institutions in the world based on market capitalization and 13th in Global Finance magazine's list of the "World's 50 Safest Banks" for 2009. BBVA provides its customers around the world with a full range of financial services, including commercial and wholesale banking, retail banking services, consumer loans, mortgages, credit cards, securities brokerage, wealth management, pension plan management and insurance. The BBVA Group maintains a leadership position in Spain, Mexico, Latin America and the Sunbelt Region of the United States as well as operations in China, France, Germany, Hong Kong, Italy, Japan, Singapore, Switzerland, and the United Kingdom.
ABOUT IC2 INSTITUTE AT THE UNIVERSITY OF TEXAS AT AUSTIN
The Institute for Innovation, Creativity, and Capital (IC2) at The University of Texas at Austin is an international transdisciplinary "Think and Do" tank devoted to solving unstructured problems to accelerate wealth and job creation and shared prosperity at home and abroad. As a research unit, IC2 is focused on knowledge exploration, dissemination, and application across a broad range of academic and applied areas. See the IC2 website at www.ic2.utexas.edu for more information.
SOURCE BBVA Compass
http://www.ic2.utexas.edu
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