Argentina | BBVA Research Big Data Consumption Indicator (Nov 25, 2021)

Summary

Total consumption with cards continues with a weakened performance, with spending on services growing much faster than spending on goods. Although the number of transactions increased with respect to previous years, compared to other BBVA Group countries, the evolution is somewhat slow.

Key points

• Key points:
• So far in November, total consumption average real growth was 0.1% YoY. The average YoY increase for that period in spending on services continues to far exceed that of goods.
• The categories that most benefited from Cyber Week promotions were those related to tourism, clothing and home equipment.
• The official economic activity data for September 2021 confirmed the improvement captured by our real-time consumption indicator. Expectations remain that the level of activity will continue to be above the pre-pandemic record.
• The number of transactions made with our clients' cards is higher than the 2019 and 2020 records. However, in the international comparison, the evolution of consumption remains lagging.

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