Argentina | BBVA Research Big Data Consumption Indicator (Ago-22)

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.

Key points

• Key points:
• Both spending on goods and services returned to strength and showed significant increases, in real terms and in the number of transactions.
• All categories showed increases in the seventh month of the year, with the exception of consumption through online platforms.
• Winter vacations boosted tourism and leisure spending, while FX rate stress in July stimulated the consumption of durable goods.
• Fuel sales recovered in July, giving a positive indication for economic activity, but did not achieve sustained growth.
• Supermarket consumption (retail and wholesale) in July joined the general increase mentioned above, both in real terms and in number of transactions.

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