Argentina | Real-time consumption monitoring (Apr 14, 2021)

Summary

March´s consumption showed a marked rebound when capturing the effect of the beginning of the pandemic, a year ago. Real consumption grew 6.6% on average vs 2019 (removing the pandemic effect). Services remain behind goods.

Key points

• Key points:
• Total consumption, measured in daily averages, was 28 pp higher than Mar-20 (7 pp higher than in March 2019). Although services grew stronger, up to 160% YoY, they remain behind compared to goods. The new wave of infections particularity concerns this sector, which happens to be the largest employer.
• Although mobility and the amount of cash withdrawals are 60% of pre-pandemic levels, they show an adjustment in the withdrawn amounts, reaching similar levels to the ones observed at the beginning of 2020.

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