Global | The COVID-19 impact on Consumption in Real Time and High Definition: Jan 15th

Summary

The COVID-19 impact on consumption was much more intense during the first wave than in the rest of the year 2020. By sector of activity, the impact of Covid-19 has been heterogeneus too. Food and health was the most beneffited ones and tourism related sectors the most damaged.

Key points

• Key points:
• E-commerce gained ground in 2020, specially in emerging countries.
• The daily data shows that consumption growth rates moderated during the last month, except in the USA, Peru and Argentina.
• The recovery continued to be uneven across sectors and countries. The restrictions in Turkey are having a significant impact. The recovery of the LATAM countries continued, but moderated in Colombia. While entertainment expenditure recovered faster in developed countries, transport spending did it in the LATAM countries.
• The difference between ATM withdrawals and card spending remained in Spain and Peru since June, pointing to a change in preferences of using cards instead of cash.

Geographies

Topics

Tags