Spain | Impact of COVID-19 on consumption in real time and high frequency: 30 July

The increase in face-to-face card spending slowed down to 0.5% year-on-year last week, due to both the lower growth of purchases with Spanish cards (8%) and the greater decline in transactions with foreign cards (-54%).

Key points

• Key points:
• The restrictions caused by the outbreaks of COVID-19 have dampened the recovery in consumption in Huesca, Zaragoza, Gipuzkoa, Barcelona, Murcia and Navarre.
• Spending with Spanish cards grew in 50 provinces. It only fell in the Balearic Islands and Madrid. The increase exceeded 20% in Melilla, Avila, Asturias, Jaén, Soria, Cantabria, Cáceres, Badajoz, Cuenca and Orense.
• The recovery of purchases with foreign cards stopped in the provinces bordering France, except in Navarre. The reduction in tourist demand in urban destinations affected by resurgence of COVID-19, such as Zaragoza and Barcelona, also accelerated last week.
• The food, household equipment, other services and health sectors led the recovery in face-to-face transactions last week. At the opposite end of the spectrum were transport, leisure, accommodation and travel.
• The decline in internet transactions was accentuated to -20% year-on-year, reducing the share of online spending to 15% compared to 19% in the same week in 2019. Card cash withdrawals decreased in all provinces last week. The average drop was -16% year-on-year.

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