Argentina | Real-time consumption monitoring (Oct 26, 2020)

Summary

Despite the recovery in service expenditures, consumption showed a contraction in mid-October explained by the drop in goods expenditures. Official data confirms the loss of strength of the rebound in activity captured by our real-time indicators.

Key points

• Key points:
• After regaining ground, total consumption made with debit and credit cards fell by 5.2% year-on-year on average in the last week of measurement.
• Categories that had outlined an upward path in previous measurements interrupted their dynamics and showed a drop. On the other hand, more relegated categories improved their performance.
• The INDEC released the activity data for August, confirming the marginal increase that our real-time fuel consumption indicator had captured.
• Countries have been improving their consumption as they have made their lockdown measures more flexible. However, Argentina shows its lagging behind in international comparison.

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