The positive trends in the residential and non-residential property sector will continue to drive growth across the United States during the first half of the year, according to a study by BBVA Research.
"For the bank activity on the West Coast and in resource-rich areas will benefit from the remarkable recovery of activity in the areas of housing, construction and exports, and overtake much of the country in the first half 2014, "said BBVA analysis area.
The report concludes that the prospects for most states remains stronger than one might infer from the lack of acceleration in activity in February.
First, while employment fell in most states, the construction activity continues its positive trend, contributing to improved outcomes in 27 of 50 states.
Low inventories and greater confidence will encourage the construction activity in most of the states of the American Union; recent indicators of private investment in residential and non-residential properties suggest a strong upside potential this year, said the financial group.
"Despite the historically low rates of household formation among young professionals, most trusted Millennials in the labor market will encourage the purchase of first homes and give boost to housing prices," said BBVA.
For the Spanish group, the increased demand for manufacturing labor force in the United States and highly skilled support income growth, in real terms, have been stagnant since 2000.
Thus, in another study the same group stressed that this more dynamic support to Mexican exports, mainly from the automotive and manufacturing industry in 2014.
"The expansion of construction and manufacturing and rising income will have a positive impact on other sectors. This is what supports a scenario of stronger economic growth and a broader basis in the coming quarters, "said BBVA Research.
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