Spain | DANA: Real-time monitoring of the economic impact

One month after DANA (week from November 26 to December 2), the majority of indicators in the province of Valencia show a similar evolution to that observed in the rest of Spain, highlighting the acceleration shown in spending by foreigners, car registrations and the most affected municipalities.

Key points

• Key points:
• In-person spending in the province of Valencia increased by 16.2% year-on-year, above what was observed in the previous week (3.8%), driven by the positive effect of Black Friday. The difference in variation with the rest of Spain closed (0.3 pp).
• Purchases with Spanish cards continued to show strong dynamism in the province of Valencia and grew by 16.3% year-on-year in the last week. In addition, the strong rebound in spending with foreign cards stands out, which reached 13.6% year-on-year. For the first time since the flood, the growth differential with the rest of Spain in this item has become positive (2.3 pp).
• By sector, the advance was more intense in some activities that traditionally benefit most from Black Friday (large stores, technology and leisure). Only spending on transportation fell in the province of Valencia during the reference week.
• Vehicle registrations multiplied by 2.1 in the last week of November in the province of Valencia. Sales of passenger cars increased by 110% year-on-year in Valencia, 38 pp more than in the rest of Spain, and sales of other vehicles increased by 107% compared to 36% in the rest.
• In many municipalities the pace of recovery is moderate, unlike the most affected ones, where it is accelerating. Bizum grows in general, especially in the most damaged areas, as an alternative payment.

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