Spain | Impact of COVID-19 on consumption in real time and high definition

Summary

The recovery in consumption continued with the advance of de-escalation. The fall in card spending, which was more than -60% year-on-year in mid-April, eased to -5% in the second week of June due to the 3% growth in purchases with Spanish cards.

Key points

• Key points:
• Spending with Spanish cards increased by 7% year-on-year in the provinces that reached phase 3 on 8 June and progressed by 2% in those that reached phase 2, in contrast, it lost traction in those that were already in phase 2 (-1%).
• Spanish card purchases grew in 35 provinces in the week of June 8-14 compared to the same period in 2019. The increase exceeded 10% year-on-year in 13, all of them in phase 3, and gained momentum among the provinces that moved to phase 2, mainly in Madrid, Barcelona, Soria and León.
• Growth in food consumption lost momentum (46% year-on-year) compared to progress in other sectors, such as household equipment (49%), health (16%) and technology (10%). Sports, beauty centres, fashion, hotels and leisure also benefited from the progress of de-escalation.
• Unlike purchases, the average amount of withdrawals grew after the alarm state was declared, but de-escalation leads to a normalisation of the average withdrawal.
• The evolution of the average amounts of purchases and withdrawals during de-escalation is similar between groups of provinces.

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