test Global | The COVID-19 impact on Consumption in Real Time and High Definition: Oct 11t

Summary

Consumer spending growth stabilises at August levels in most countries, but with mixed movements by sector of activity. E-commerce maintains the pace of growth in almost all geographies, while the use of cash is losing ground. Spending on services outpaces spending on goods.

Key points

• Key points:
• Consumption growth stabilises at August values in most countries, only Colombia shows a significant drop.
• By sectors of activity, Mexico, Colombia and Peru reduced the pace in hotels, while Argentina improved in all tourism. Turkey and Spain maintain a generalised growth.
• Spain maintains a steady growth in face-to-face transactions compared to the decline in other countries. E-commerce keeps pace
• The use of cash appears to be losing ground to card spending in all geographies except Colombia.
• Services continues to lead goods in Spain, Colombia and Argentina. The gap between these is narrowing for Mexico and Colombia.

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