Global | The COVID-19 impact on Consumption in Real Time and High Definition: 25 June

Summary

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:
• Positive growth rates consolidate in the USA and Turkey, Spanish improvement continues and LATAM’s recovery has accelerated
• The Consumption Diffusion Heat Map continues to show recovery across countries and segments, especially in the USA, Turkey and Spain
• E-commerce expenditure continues growing in most of the countries. As for the use of cash, it has been affected differently by country, with Peru and Spain showing similar trends between consumption with card and cash
• The gap between the expenditure in goods and services remains. However, expenditure in services such as entertainment & restaurants keeps catching up after the lift of mobility restrictions
• Spain’s recovery is consolidating, card expenditure rose in 42 provinces exceeding 10% yoy in 23 of them which are in Phase 3 and Phase 2 provinces are rapidly catching up led by Madrid and Barcelona. Turkey presents positive consumption rates, but still somehow constrained in the more restricted segments. In Colombia, the VAT exclusion day had a significant impact on consumption, but with differences among cities

Geographies

Topics

Tags