Colombia | Weekly update BBVA Tracker: Consumption. 25 March, 2021

In March, the recovery in spending has slowed compared to that observed in February. Despite a moderation in goods, in the last week of the month a higher relative spending relative to 2019 was observed, driven by the recovery in services, restaurants and clothing.

Key points

• Key points:
• Basic spending remains high in 2021, but moderates compared to what was observed in 2020 with the beginning of the pandemic. Drugstores accelerate a slightly in the last week.
• 2020 low baselines begin to have an effect on the year-over-year change in spending. The trend of improvement versus 2019 is less marked in March.
• Restaurants, clothing, and others gain share of spending in the last week. On the contrary, hotels and food lose relevance.
• Clothing spending shows a marginal improvement in the last 7 days. On the other hand, online spending moderated significantly.
• The preference for cash fell sharply in the last week, to levels of the beginning of January. On the other hand, debit card spending increased.

Authors

Geographies

Topics

Tags