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

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:
• Green shoots have appeared in the USA and in Turkey after the end of curfew and Ramadan while there is ongoing recovery consolidation in the rest of the geographies, including Latam
• The Consumption Diffusion Heat Map continues to show recovery across countries and segments
• In the USA and in the EU, expenditure in both services and restaurants is rapidly recovering with the lift of restrictions and transport is improving too
• The gap between e-commerce and physical purchases keeps narrowing in some countries
• Spanish de-escalation progress explains the recovery. It is generalized across sectors in most of the Spanish provinces in Phase 2, where consumption is reaching positive growth rates

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