Spain | Impact of COVID-19 on consumption in real time and high frequency in sep-20

Summary

Spending with BBVA credit and debit cards or at BBVA POS terminals increased 3.5% year-on-year in September, 0.5 points less than in August. The sustained growth in purchases with Spanish cards (16%) offset the reduction in transactions with foreign cards (-59%)

Key points

• Key points:
• The increase in consumption with Spanish cards exceeded 25% in Madrid, Melilla, Avila, Girona and Lleida, and only fell in the Balearic Islands (-14%)
• The islands and some urban tourism destinations, such as Madrid, Toledo, Seville and Segovia, led the fall in spending with foreign cards
• The increase in face-to-face transactions with Spanish cards (10%) offset the fall in consumption with foreign cards (-68%) and the lower growth in non-presential (8%, 4 points less than in August)
• Food, home equipment, health and other services continued to lead the recovery in consumption, with growth of more than 15%
• In the week of September 28 to October 4, spending rose to 3% year-on-year, 5 points more than in the previous week. This advance was due to the increase in purchases with Spanish cards (16%), and despite the decline in transactions with foreign cards (-63%)

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