Argentina | BBVA Research Big Data Consumption Indicator (Jan 13, 2022)

Summary

In 2021, total card consumption recovered a similar dynamism to that of 2019. The evolution of the different categories reflects the uneven impact of the pandemic and the changes in habits it brought about. 2022 began with a YoY contraction in total spending due to the slowdown in consumption of services.

Key points

• Key points:
• During 2021, total consumption made with BBVA cards recovered a similar path to that observed in 2019. The progress made by these means of payment during the pandemic stands out.
• Analyzing the evolution of the different categories, the impact that the COVID-19 crisis has had on each of them can be noticed, depending on the health measures and different economic policies implemented.
• The pandemic also led to more expenditures being made with electronic means of payment, but for smaller amounts, and fewer cash withdrawals for larger amounts.
• Official indicators released in recent weeks (activity, industry and construction) confirm once again the trends captured by our real-time and high-definition indicators.
• During the first week of 2022, total consumption with BBVA cards registered another contraction in its YoY growth, led mainly by the slowdown in spending on services.

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