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

Summary

Spending with BBVA credit and debit cards or BBVA POS terminals fell by -6% year-on-year in November due to the deterioration in face-to-face purchases (-12%), both with Spanish (-8%) and foreign (-70%) cards. The rise in online transactions (13%), driven by Black Friday, limited the reduction in consumption last month.

Key points

• Key points:
• Card purchases increased in 17 provinces in November (42 in October) and decreased in 35 (10 in October). Growth exceeded 5% year-on-year in Ceuta, Melilla, Madrid and Guadalajara. On the contrary, Granada, Girona, León and Illes Balears registered falls of more than -25%.
• Other services, food, books, health and household equipment supported face-to-face spending. The increase in online transactions was generalized, with the exception of some social consumption activities, such as accommodation, travel, beauty and leisure.
• The consequences of the restrictions caused by the advance of COVID-19 on bars and restaurants spread in November.
• Cash withdrawals fell -14% year-on-year last month. The reduction exceeded -20% in Zaragoza, Melilla, Navarra, Teruel, La Rioja, Granada and Araba.

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