Spain | Impact of COVID-19 on consumption in real time and high frequency: 23 July

Summary

Growth in face-to-face card spending stabilized at 1% year-on-year between July 13 and 19. Purchases with Spanish cards rose by 8%, while transactions with foreign cards slowed their decline to -55%.

Key points

• Key points:
• Restrictions on mobility caused by the COVID-19 outbreaks have harmed card spending and cash withdrawals in some of the affected provinces, such as Lugo and Lleida.
• The upsurge in contagion does not appear to have had any impact on the recovery of card transactions in the remaining provinces for the time being.
• Food continued to lead the recovery of face-to-face purchases last week, along with the home equipment, other services and health sectors. Spending on leisure and accommodation continued to decline compared to the same period in 2019, but at a slower pace.
• Internet purchases fell by 17% year-on-year the week of July 13-19. The prolonged decline in demand for travel, accommodation, transport and leisure explains the fall in online spending.
• Cash withdrawals declined in all provinces last week. The average contraction was -15% year-on-year.

Geographies

Topics

Tags