Argentina | Real-time consumption monitoring (Nov 2, 2020)

Consumption continued to contract in the second half of October. The official data on purchases in supermarkets confirms the shrinkage in spending captured by our real-time indicator.

Key points

• Key points:
• Total expenditure made with our clients' cards fell significantly in the last weekly measurement.
• Consumption associated with tourism continues to outline a gradual path of growth, while categories benefited by the pandemic situation pointed to a significant contraction.
• Official supermarket sales data for August confirmed the decline captured by our real-time indicator. These expenditures are expected to remain flat in September and October.
• Our real-time consumption measurement is found to be highly correlated with industry energy demand, thus enhancing the power as a leading indicator.

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