Argentina | Real-time consumption monitoring (Nov 16, 2020)

Summary

After the momentum achieved at the end of October, consumption remained flat during the first days of November and is now returning to pre-pandemic levels. Inflation made its way and advanced more quickly than general mobility. ATM cash withdrawals in real terms continue their upward trend.

Key points

• Key points:
• The Cyber Monday boosted sales of some specific categories, although without the strength of July's Hot Sale.
• The new CPI data indicates that inflation began to accelerate its rate much more than the general mobility.
• Total consumption and spending on goods in real terms returned to their pre-pandemic level, while ATM withdrawals in real terms were 20% higher.
• Our real-time consumption indicator shows a high degree of correlation with the level of tax collection associated with the real economy.

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