Global | The COVID-19 impact on Consumption in Real Time and High Definition: Oct 11th
Published on Monday, October 11, 2021 | Updated on Monday, October 11, 2021
Big Data techniques used
Global | The COVID-19 impact on Consumption in Real Time and High Definition: Oct 11th
Consumer spending growth stabilises at August levels in most countries, but with mixed movements by sector of activity. E-commerce maintains the pace of growth in almost all geographies, while the use of cash is losing ground. Spending on services outpaces spending on goods.
Key points
- Key points:
- Consumption growth stabilises at August values in most countries, only Colombia shows a significant drop.
- By sectors of activity, Mexico, Colombia and Peru reduced the pace in hotels, while Argentina improved in all tourism. Turkey and Spain maintain a generalised growth.
- Spain maintains a steady growth in face-to-face transactions compared to the decline in other countries. E-commerce keeps pace
- The use of cash appears to be losing ground to card spending in all geographies except Colombia.
- Services continues to lead goods in Spain, Colombia and Argentina. The gap between these is narrowing for Mexico and Colombia.
Documents to download
Authors
- Sirenia VázquezBBVA Research - Principal Economist
- Juan Ramón GarcíaBBVA Research - Principal Economist
- Vanessa BelapatiñoBBVA Research - Senior Economist
- María Paula Castañeda
- Juan Manuel ManíasBBVA Research - Principal Economist
- Alvaro OrtizBBVA Research - Head of Analysis with Big Data
- Tomasa RodrigoBBVA Research - Lead Economist
- Pep RuizBBVA Research - Principal Economist
- Saide Aránzazu SalazarBBVA Research - Principal Economist
- Fernando Bolívar
- Ali Batuhan BarlasBBVA Research - Principal Economist
Topics
- Topic Tags
- Consumption