Spain | Impact of COVID-19 on consumption in real time and high definition

Summary

The lockdown reduced weekly card spending by about -60% year-on-year in the first half of April. The lifting lockdown restrictions has moderated the contraction to -14% in the week from 25th to 31st of May.

Key points

• Key points:
• Consumption increased in 32 provinces last week compared to the same period in 2019. 9 out of 10 of these are in phase 2 (28 provinces).
• Average spending increased by 8% year-on-year in the provinces that entered Phase 2.
• The effect of entering phase 2 on expenditure growth reached 16 points in the provinces that passed on this phase the 25th of May. The impact is similar to that caused by the change from phase 0 to phase 1 in these same territories.
• De-escalation has boosted face-to-face purchases, which has reversed the growth differential with internet purchases.

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