Global | The COVID-19 impact on Consumption in Real Time and High Definition: 30 July

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:
• While positive growth rates stabilised in the USA and in Europe, with Turkey outperforming, Latam’s growth rates decelerated
• The Consumption Diffusion Heat Map shows the recovery by sectors seems clearer in Spain and Turkey
• Whereas expenditure in restaurants stabilised in most of the countries and continued increasing in Turkey, expenditure in entertainment slowed down
• The gap between e-commerce growth and physical purchases remained. Online sales are increasing in all the countries but Spain given the importance travel expenditures have in the country
• In Spain, the recovery continued among national consumers but, even though it is improving, the slump in foreign consumption is still in touristic areas and big cities. 50 Spanish provinces are growing while the restrictions triggered by the outbreaks moderated the recovery in some of the affected ones

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