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In May, total consumption with BBVA cards, in real terms, grew 10.2% YoY. The latest data from our real time indicators show a weakness in the economic recovery process.
In the current global socio-economic context, and especially after the COVID-19 crisis, digitization and sustainability have become key elements of economic and social transformation, being particularly relevant to understand and analyze how both interact.
Card spending increased 41% year-on-year in May (51% in April). Progress was greater in the online channel (69%) than in the face-to-face channel (30%). The end of the state of alarm in May 2021 magnified the year-on-year slowdown in purchases, especially with foreign cards.
DiGiX aims to capture the global evolution of digitization by monitoring this pheonomenon across 99 countries. Our index combines 20 variables grouped in six dimensions that represent three pillars: supply (infrastructure and costs), demand (users, government and enterprise adoption), and institutional environment.
In May, BBVA Research's big data consumption index (inflation-adjusted spending with cards and cash withdrawals) increased 8,0% compared to the same month in the previous year (19.0% YoY in April).
The BBVA Research Big Data Consumption Indicator (ICBD BBVA Research) slows down amid the fall in the tourism sector after the high dynamism registered in April triggered by the Easter holiday period.
The actual socioeconomic context has reinforced and accelerated a number of global trends, in particular sustainability and digitalization, two of the most disruptive. The empirical study conducted by BBVA Research suggests that an inverted U-shaped relationship exists between digitalization and CO2 emissions.
May 24, 2022
Spain | Households’ CO2 Footprint: Enhancing Measurement, Economic Analysis and Big Data
This note proposes a path to shore up the measurement of the carbon footprint of the representative household of an economy, enhancing traditional macroeconomic analysis and with the use of Big Data in order to obtain real time outcomes and insights into the impact of the lifestyle of different households.