September 8, 2021
COVID-19 crisis latest publications
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.
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.
August began with a YoY recovery of consumption in real terms, although its level is lower than before the pandemic. The end of the winter vacations significantly contracted tourism and leisure spending, while the rest of the categories remain weak.
August 10, 2021
Mexico | 3.8 million more poor and 2.1 million more in extreme poverty between 2018-2020
Between 2018 and 2020, the population living in poverty increased by 7.3%, from 51.9 to 55.7 million inhabitants, and the population living in extreme poverty grew 24.1%, from 8.7 to 10.8 million. The increase in the population with a lack of access to health services stands out, which went from 16.2% to 28.2%.
Spending grew 6.9% MoM in real terms in July. However, it is still 5.7% below Jul-19 levels and 5.3% below Jul-20. The negative variation vs 2020 is mainly explained by the Hot Sale that took place that month. The winter holiday balance was not negative even though it remained below the 2019 one.
We adjusted our 2021 economic growth forecast from 7% to 6.5%. This year will be notably marked by the midterm elections. The macroeconomic performance of Argentina during the coming years will be defined crucially by the characteristics of the agreement with the IMF, which would take place in 1Q22.
Total consumption started July with a slight growth returning it to pre-pandemic levels, although lower than in the same period of 2019. Increases in categories associated with tourism and leisure, mainly, stand out.
BBVA Research, BBVA Foundation and CONAPO book in eight chapters: 1) Global Migration, 2) International Students, 3) Mexican Emigration, 4) Human Mobilities in Mexico, 5) Migration and Health, 6) Migrant Children, 7) Remittances and 8) Fact Sheets by Federal Entity.