Global | Measuring Consumption in Real Time and High Definition

Summary

Presentation given in the summer course of the Menéndez Pelayo International University (Santander), organized by the 'Asociación de Periodistas de Información Económica' (APIE), in the session entitled 'Consumption Thermometers'.

Key points

• Key points:
• The increasing availability of data enables economic developments to be measured in an extraordinarily detailed and rapid manner, helping society and authorities to make better decisions. Financial data, aggregated and anonymized, as well as properly processed, give an accurate and comprehensive image to measure economic activity in real time and high definition.
• Card transactions allow to predict the aggregate consumption in the most immediate time and to make a detailed economic analysis of the countries in which BBVA is present.
• Consumption growth peaked during April, compared to last year’s data during quarantine.
• After an initial uneven impact, the consumption dynamic shows the recovery by sector and countries in recent months.
• With respect to the pandemic crisis, Spain shows a wide reallocation of expenditure categories, unequal by income group, with a gradual recovery as mobility was recovered.

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