Argentina | Real-time consumption monitoring (May 19, 2021)

Summary

The recent Hot Sale boosted spending levels in goods above pre-pandemic records after all items showed a contraction in consumption during April. Construction spending forecasts a slowdown in activity. The new wave of contagions impacts ATM withdrawals.

Key points

• Key points:
• Consumption improved in the last few days thanks to the Hot Sale, which boosted spending levels on goods, reversing the YoY fall of previous weeks.
• In April the level of consumption in real terms contracted in all categories, except those corresponding to virtual platforms.
• Total consumption with cards is close in real terms to those reported in 2019, although with a new composition with a predominance of digital media.
• Consumption in Construction shows a slowdown that forecasts a retraction of the sector in April and May, returning the sector's activity to pre-pandemic levels.
• Due to the second wave of contagions, the number of ATM withdrawals in April fell 10% monthly, while the average amount per transaction in real terms remained unchanged.

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