Global | The COVID-19 impact on Consumption in Real Time and High Definition: Nov 6th

Summary

Positive growth rates continued in Turkey, USA and Mexico during October. The positive trend intensified in Peru, while moderated in Spain. This recovery is uneven across sectors and countries. While entertainment expenditure recovered faster in developed countries and Turkey, transport spending did it in Latam countries.

Key points

• Key points:
• Recovering trends standed out in Peru and Colombia in October compared with the previous month. Turkey and Argentina continued outperforming.
• The gap between e-commerce and physical purchases narrowed in Colombia during the month, while it kept in the rest of 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.
• Spain. Total card spending increased by 0.6% yoy in October, 3 points less than in September. The impact of the restrictions on restaurants, linked to the worsening of the pandemic, has been notable, especially in the territories where the closure of restaurants was decreed such as Navarra or Catalonia. The impact of the new Covid-19 outbreak in consumption is still quite different from the one observed in March/April.

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