December 2, 2020
Consumption latest publications
Consumption in November grows 13.6% y/y thanks to the impulse of the day without VAT, services continue to recover but remain in negative territory.On the other hand, investment continues to show marginal improvements associated with a lagging construction component but greater dynamic in machinery and equipment.
General consumption rebounded and reached a real average growth of 10% YoY in the last week. All categories showed progress, with different values. The predictive power of our consumption indicators for economic activity and supermarket purchases is once again confirmed.
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The third day without VAT that we had in the country had a significant positive effect on private consumption, in addition the data gives a break to trade due to its dynamism after a drought of good news in times of pandemic.
November 26, 2020
Peru | Real-time analysis of the impact of COVID-19 on consumption (up to November 23)
In November, total card consumption grew 13,7% MoM (18,9% in October), consistent with the progress of the country’s economic recovery.
The third and last day without VAT of the year had a very positive balance for the sectors that benefited from this exemption. Consumption during this day was 50% higher than that registered for the two previous days. The clothing and household appliance sectors were some of the big winners.
General consumption remained flat in the first half of November, with an upturn in spending helped by the recovery in tourism. On the contrary, categories that had been outlining a progressive improvement surprisingly showed a break.
The data corresponding to the third quarter shows a smaller output contraction in line with the recovery following the pandemic, higher public deficit due to the fiscal effort to mitigate the impact and a lower current account deficit.