Peru | Real-time analysis of the impact of COVID-19 on consumption (up to October 26)

Summary

In October, total card consumption grew 17,0% compared to the same month in 2019 (10,2% in September), consistent with the beginning of Phase 4 of the economic reactivation (started on October 1st).

Key points

• Key points:
• The share of online purchases with cards continues to increase and its dynamism has propped the recovery of spending.
• In a context of additional productive sectors reopening in October (Phase 4), a significant increase in expenses related to accommodation, tickets and tours has been observed.
• In hand with the relative recovery of the economy, spending on some items (fashion and beauty, department stores, and sporting goods and services) accelerated, while others continued to improve (transportation, restaurants, and entertainment spending).
• Cash withdrawals also improved with Phase 4, and are now closer to the levels observed in a similar period last year.
• BBVA Research's consumption indicator anticipates a recovery in private consumption in the third quarter of this year.

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