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In 2021, total card consumption recovered a similar dynamism to that of 2019. The evolution of the different categories reflects the uneven impact of the pandemic and the changes in habits it brought about. 2022 began with a YoY contraction in total spending due to the slowdown in consumption of services.
January 7, 2022
Spain | Impact of COVID-19 on consumption in real time and high definition in Dec-21
Card purchases in Dec-21 were 38% higher than in the same period of 2019, 2 points lower than in November (31% YoY). The slowdown in spending with foreign cards, both face-to-face (4%) and online (-35%), offset the increase in transactions with Spanish cards.
Total consumption with cards is at similar levels to those of a year ago. The contrast between consumption in goods and services persists. Signs of weakness in private sector employment generation. Industry and construction, with expectations of a slight increase in the last part of 2021.
December 9, 2021
Spain | Impact of COVID-19 on consumption in real time and high definition in Nov-21
Card spending in November was 40% higher than in the same month of 2019, in line with what happened in October (49% YoY). The upturn in face-to-face transactions with foreign cards and online transactions with Spanish cards offset the lower advance in face-to-face consumption with Spanish cards.
December 2, 2021
Mexico | Consumption grew 1.1% in November with positive performance of goods and services
The BBVA Research Big Data Consumption Index reported in November a positive monthly change, regaining momentum after the slow dynamism registered in 3Q21.
Total consumption with cards continues with a weakened performance, with spending on services growing much faster than spending on goods. Although the number of transactions increased with respect to previous years, compared to other BBVA Group countries, the evolution is somewhat slow.
At BBVA we introduced a new indicator built with Big Data, based on the appraisals used in the bank's regular activity, to strengthen price monitoring in the sector. In addition, we built a set of models to improve estimates in real time.
The dynamics of total consumption with BBVA cards still shows no signs of a definitive take-off, even though the last measurement was able to detect the Cyber Week effect. On this occasion, we present a new leading indicator on the performance of total private registered employment and its main sectors.