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Global | The COVID-19 impact on Consumption in Real Time and High Definition: 2 July

Published on Thursday, July 2, 2020

Global | The COVID-19 impact on Consumption in Real Time and High Definition: 2 July

This is a weekly publication based on high-frequency and high-resolution aggregated and anonymised transaction data from BBVA to analyse the dynamics in real time of expenditure in the countries where BBVA operates during the ongoing COVID-19 pandemic.

Key points

  • Key points:
  • The pace of the recovery slowed down at the end of June after the rapid catch up growth during the last weeks
  • The Consumption Diffusion Heat Map shows a much more clear outlook in June compared to the last three months
  • While restaurants continue catching up since the lift of mobility restrictions, specially in Europe, accommodation is still subdued
  • Spain continues to consolidate its recovery: accommodations’ negative growth has started to moderate, card expenditure has risen in 48 out of 52 provinces exceeding 10% yoy in 27 of them and, on June 22-28, national consumption of provinces who went into Phase 3 first grew 7% yoy and the rest grew 4% yoy
  • In Turkey, consumption went back to normality in June and investment accelerated since the middle of the month. In Peru, online expenditure is still booming and negative growth rates moderated in June

Geographies

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