Global | The COVID-19 impact on Consumption in Real Time and High Definition: Sept 8th

Summary

Consumption growth rates showed a rebound in August in most countries, especially in services and tourism related sectors. In most countries card spending has gained more pull against cash.

Key points

• Key points:
• The rebound was more evident in Turkey and Argentina towards the end of the month
• Restaurants and hotels show an overall favorable behaviour during Holidays. Entertainment and transport recovers at different speed
• The gap between e-commerce and physical purchases continues to narrow. Purchases seem to be showing a less volatile behaviour, except in Turkey
• Cash seems to be losing pull in recent months against card spending, except in Argentina and Peru
• Services growth rates have surpassed goods.The gap between both has widened since the 2Q-21

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