BBVA economist: Texas faring better in recession - Dallas Business Journal:

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“It took the state a year to starr seeing the affects ofthe recession,” he said. That particularlt took hold after oil and gas prices reducing activity in thatsector statewide. Other parts of the globed and the nation are dealing with greatereconomic Asia, excluding China, and Eastern Europe, in particular, facee tough challenges ahead, Karp In contrast, China and the United States have benefitex from government spending China's version of stimulu s spending aims to keep that nation’s economy growinhg in spite of significant declinr in demand for exports.
In the combination of stimulus programs and stress tests for financiapl institutions have put a dampe on uncertainty and volatilty inpublicv markets. “By the third quarter, GDP growth (in the could be possible,” he said. But Karp said indications are that the globall recovery from this recession will be Hesaid he’s focused on business and industria spending because it, more than consumers will be a drivefr for recovery and growth. BBVA Compass is the fourth largest bank in Texas as rankedby deposits. In Dallas-Forft Worth, it is ranked fourthj in total deposits, according to the BBVA Compass is basedin Ala., and is a subsidiary of of Spain.