Peru | Real-time analysis of the impact of COVID-19 on consumption (up to April 26)

Summary

In April, total card consumption grew 213% YoY, in real terms. This is explained by a low comparison base due to the fact that the same month last year spending was affected by confinement measures and mobility restrictions.

Key points

• Key points:
• Compared to the same month of 2019, total card purchases in April were 40% higher.
• The participation of the on-line channel in total purchases was 43%, while food and health expenses continue to show a strong expansion.
• In April, the total amount of cash withdrawals also showed a significant YoY increase.
• BBVA Research's consumption indicator shows that in the first quarter of 2021 consumption continued to improve, maintaining the trend that began in the third quarter of 2020.

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