Peru | Real-time analysis of the impact of COVID-19 on consumption (up to December 21)

In December, total card consumption grew 23,0% MoM (16,1% in November), consistent with the progress of the country's economic recovery and higher purchases as a result of the festivities.

Key points

• Key points:
• The share of online purchases with cards continues to increase and its dynamism has propped the recovery of spending.
• Expenses related to accommodation, tickets and excursions continue to improve although they have shown a decline in recent weeks, possibly due to greater caution given the increase in COVID-19 infections.
• In a context of gradual normalization of activities in diverse productive sectors, spending on home goods and services kept growing at the pace sustained for a few months now.
• Cash withdrawals remain below the levels observed in the previous year.
• BBVA Research's consumption indicator anticipates a recovery in private consumption in the fourth quarter of this year, although still at lower levels compared to the previous year.

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