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In August, total consumption with BBVA cards fell 2.9% YoY in real terms, thus returning to negative ground after July's increase. Most of the items contracted after the good performance they had had last month.
September 12, 2022
Mexico | ENAFIN 2021: Advances in digitization and challenges in access to financing
On August 29, 2022, the results of the National Survey on Business Financing (ENAFIN) 2021 were presented. This report aims to analyze the progress and challenges regarding the financial inclusion of companies, reviewing issues of financing and digital payment methods.
Total consumption with BBVA cards grew 6.5% YoY in July in real terms, reversing the negative performance of June, as did the great majority of categories.
In June, total consumption with BBVA cards, in real terms, fell 4.2% YoY, the lowest value since February 2021. Spending declines are evident in all categories.
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.
The automobile sector offers a useful overview of many of the general trends that we are seeing in the economy. First of all, it provides a good example of the impact that society's changing preferences are having and, secondly, it demonstrates how supply-side constraints are limiting growth.
The inflation woes currently afflicting us are well known by now, as are the causes, consequences and all the risks they entail. The response so far, while well-intentioned, has failed to solve the underlying problem and more forceful monetary policy action is almost inevitable as we move forward.
On May 11, 2022, the results and databases of the National Survey of Financial Inclusion 2021 were published. This report has the objective of analyzing the advances or setbacks in some indicators of the financial inclusion of the population in Mexico between 2018 and 2021.