Spain | Impact of COVID-19 on consumption in real time and high frequency in oct-20

Summary

Spending with BBVA credit and debit cards or BBVA POS terminals grew 0.6% year-on-year in October, 3 points less than in September, affected by the deterioration of the health situation. Both face-to-face transactions (-1%) and online purchases (5%) lost traction.

Key points

• Key points:
• Consumption grew in 42 provinces in October, especially in Melilla, Teruel, Cádiz, Huelva, Albacete, Guadalajara and Ávila. On the contrary, it fell by 10. Illes Balears, León, Barcelona and Las Palmas exhibited the greatest falls.
• The increase in spending on food, household equipment, health, books and newspapers, technology and other services offset the decrease in purchases of travel, accommodation, transportation, beauty, fashion, restaurants and leisure activities.
• The impact of the restrictions on the hospitality industry since mid-October has been notable, especially in the territories where bars and restaurants were closed, such as Navarra, Catalonia, La Rioja and Melilla.
• In the week from October 26th to November 1st, card spending barely changed (0% year-on-year), despite the public holiday and the rise in non-contact transactions (14%).

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