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Consumption in the first half of September grows 18.6% against the same period in 2019, showing a better dynamic than that observed in August, when it grew 11.2%. Goods recorded a growth of 34.0% compared to 2019. Meanwhile, services are still 2.8% below their pre-pandemic level.
September 8, 2021
Global | The COVID-19 impact on Consumption in Real Time and High Definition: Sept 8th
Consumption growth rates showed a rebound in August in most countries, especially in services and tourism related sectors. In most countries card spending has gained more pull against cash.
September 7, 2021
Spain | Impact of COVID-19 on consumption in real time and high definition in Aug-21
Card spending in August was 35% higher than in Aug-19 (28% in July). Transactions with Spanish cards gained momentum, especially non-face-to-face (139%), while those with foreign cards narrowed the gap with 2019 figures.
Consumption in August grew 11.2% compared to the same period in 2019, lower than the maximum observed since the beginning of the pandemic recorded last July (17.6%). In the month, a generalized lower dynamic was observed in the different consumption categories, although with greater emphasis on the goods groups.
In August, the BBVA Consumption Index fell (-)1.9% MaM (sa), which adds to the low growth of July (0.4%), pointing to a slowdown in pent-up demand in 2H21.
Card spending is in positive ground in the last weeks of August, but without a clear trend. Spending on services continues to recover better than spending on goods, but both remain below pre-pandemic levels.
Those sectors of the Spanish economy most dependent on the movement of people have been among the most severely hit by the COVID-19 crisis — in particular domestic and foreign tourism.
August 26, 2021
Peru | Real-time analysis of the impact of COVID-19 on consumption (up to August 23)
In August, the BBVA consumption indicator grew 25% in real terms with respect to the same month of 2019. The increase in household spending coincides with the increase in household liquidity, relaxation of sanitary isolation measures and further progress in the vaccination process.