Searcher

Published on Thursday, September 15, 2022

Argentina | BBVA Research Big Data Consumption Indicator (Sep-22)

In August, total consumption with BBVA cards fell 2.9% YoY in real terms, thus returning to negative ground after July's increase. Most of the items contracted after the good performance they had had last month.

Key points

  • Key points:
  • Expenditures on goods and services grew 4.8% YoY and 36.6% YoY in real terms, respectively, but those corresponding to Virtual Platforms plummeted 76.4% YoY, deepening the decline of previous months.
  • The evolution of the average amount per transaction, in real terms, shows a clear downward trend contrary to the growing path of inflation, and is below 2019 levels.
  • The analysis by category shows that the great majority of them worsened during August, showing falls both in the level of real expenditure and in the number of transactions.
  • Fuel sales fell 1.5% YoY in August, the first negative result after 17 months of growth, revealing signs of weakness in economic activity for the second half of the year.
  • Consumption in the construction sector contracted 5.7% YoY, completely eroding the advance registered in July, so we expect the next official result of the sector to be along the same lines.

Documents to download

Geographies

New comment

Be the first to add a comment.

Load more

You may also be interested in