Peru | Real-time analysis of the impact of COVID-19 on consumption (up to November 23)

Summary

In November, total card consumption grew 13,7% MoM (18,9% in October), consistent with the progress of the country’s economic recovery.

Key points

• Key points:
• The share of online purchases with cards continues to increase and its dynamism has propped the recovery of spending.
• In a context of gradual normalization of activities in diverse productive sectors and the decrease in new cases of coronavirus at a national level, we observe a significant increase in expenses related to accommodation, tickets and tours.
• Spending on home goods and services kept growing at the pace achieved months ago.
• Cash withdrawals remain below the levels observed in the previous year.
• BBVA Research's consumption indicator anticipates a recovery in private consumption in the fourth quarter of this year, although still at lower levels observed in the previous year.

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