Global | The COVID-19 impact on Consumption in Real Time and High Definition

Summary

This is a weekly publication based on high-frequency and high-resolution aggregated and anonymised transaction data from BBVA to analyse the dynamics in real time of expenditure in the countries where BBVA operates during the ongoing COVID-19 pandemic.

Key points

• Key points:
• Positive growth rates consolidate in the USA and in Turkey, Spain experiences a rapid improvement and the recovery flattens in LATAM
• The Consumption Diffusion Heat Map continues to show recovery across countries and segments, especially in the USA, Turkey and Spain
• By sectors, expenditure in services like restaurants is catching up rapidly after the lift of mobility restrictions and food expenditure (at home) has moderated, transport is improving in most of the countries and expenditure in entertainment is also recovering fast in the USA, Turkey and Spain
• The gap between e-commerce and physical purchases keeps narrowing in some countries
• In Spain, bars & restaurants, entertainment and fashion are recovering fast. 35 out of 52 provinces are already growing and Phase 2 provinces are rapidly catching up led by the sharp recovery of Madrid and Barcelona

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