Spain | Impact of COVID-19 on consumption in real time and high definition in Nov-21

Summary

Card spending in November was 40% higher than in the same month of 2019, in line with what happened in October (49% YoY). The upturn in face-to-face transactions with foreign cards and online transactions with Spanish cards offset the lower advance in face-to-face consumption with Spanish cards.

Key points

• Key points:
• The behavior of the demand for goods was more favorable than that of services, especially in the fortnight prior to Black Friday. Consequently, its participation in spending increased 2 points compared to October to 40%.
• The impact of Black Friday was concentrated in the sectors of other services -which include e-commerce platforms and online subscriptions-, home equipment, sports, food and restaurants. Compared to 2020, the progress in purchases was greater in social consumption activities and those associated with travel.
• Face-to-face card transactions exceeded 2019 levels in all provinces. Ávila, Segovia, Cádiz, Ourense, Seville and Córdoba led the growth.
• For the first time since February 2020, cash withdrawals by card in November exceeded those made in the same period in 2019 (2%). The share of cash withdrawals remained at 21%.

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