After the expansion of mobility restrictions in most of the country, consumption has deteriorated further in recent days, dropping 18% annually in January. The service sectors are in a sharp decline in recovery and many are at levels recorded prior to the end of strict confinement.
Global | The COVID-19 impact on Consumption in Real Time and High Definition: Jan 15th
The COVID-19 impact on consumption was much more intense during the first wave than in the rest of the year 2020. By sector of activity, the impact of Covid-19 has been heterogeneus too. Food and health was the most beneffited ones and tourism related sectors the most damaged.
Spain | Impact of COVID-19 on consumption in real time and high frequency in dec-20
Spending with BBVA credit and debit cards or BBVA POS terminals grew 6% year-on-year in December, 10 points more than in November, due to the rise in transactions with Spanish cards, both face-to-face (5%) and online (56%).
Consumption in January shows a significant deterioration related to the new mobility restrictions imposed by the arrival of the second wave of Covid-19 in the country. At the regional level, the impact on consumption has been differentiated and has depended largely on the degree of closure of the economy.
Argentina | Real-time consumption monitoring (Jan 13, 2020)
BBVA´s credit and debit cards consumption fell 7.2% (in real terms) in 2020, compared to 2019. Services transactions were more affected than goods. Consumers appear to show changes in certain shopping habits due to isolation.
In 2020, in nominal terms, consumption fell 6.7% y/y, with a decline in services of -28.1% and growth in goods of 9.2% compared to 2019. Its maximum decline was observed in April (-40%) because of the effects of containment and the pandemic, and it has since gradually recovered.
Argentina | Real-time consumption monitoring (Dec 30, 2020)
Total consumption ends 2020 with a boost given by Christmas shopping, returning to pre-pandemic levels. Official data confirms the predictive power of our real-time consumption indicator for both economic activity and supermarket consumption.
Impact of COVID in Spain with data on mobility, electricity demand and card expenditure
BBVA, Iberdrola and Telefónica have joined forces to analyze the consequences of the first wave of COVID-19 - between March and August 2020 - on household spending, electricity consumption and mobility.