The COVID-19 impact on Consumption in Real Time and High Definition

Summary

This is a weekly publication based on high-frequency and high-resolution aggregated and anonymised transaction data from BBVA to analyse the dynamics in real time of expenditure in the countries where BBVA operates during the ongoing COVID-19 pandemic.

Key points

• Key points:
• Mobility restrictions hit consumption with different intensity. Card spending rebounds in the USA
• Consumption shows a similar pattern, but with some divergences. Some lighter colors that appeared in the second half of April have reverted
• Some expenditures such us food and, to a lesser extent, health are holding up while spending on services remains stagnant
• Technology matters: e-commerce keeps leading the way and is still resilient
• Services have been hit more than goods in most of the countries and food consumption continues outperforming the rest

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