Argentina | Real-time consumption monitoring (Aug 28, 2020)

Summary

Real consumption stabilizes at levels below pre-pandemic ones, with a slight rebound in spending on goods and a drop in services during the last week. There is a clear contraction in consumption in supermarkets while expenditures on non-essential items such as Automotive and Sports and toys increase.

Key points

• Key points:
• The trend in global consumption indicates a progressive rebound towards pre-pandemic levels. In Argentina, however, the effect of isolation measures is affecting the dynamics of spending.
• Card expenditures for the acquisition of goods have grown in the last week in contrast to the consumption of services, showing a divergent path.
• Our real-time supermarket spending indicator is showing a contraction in consumption in this category and shows a clear correlation with that officially published by the INDEC.
• The gradual opening of the last few days boosted sales in non-essential categories, particularly in Automotive, Construction and Sports and Toys.

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