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PERU: BBVA’s Private Consumption Index Slows Further In December

PERU
BulletPeruEM BulletEmerging Market News
  • BBVA’s Big Data Private Consumption Index – based on spending on cards and cash withdrawals, adjusted for inflation – continued to slow in December, with growth easing to 6.4% y/y, from 8.4% in November.
  • BBVA says that this reflects the waning impact of pension fund withdrawals by households, which had provided a temporary boost through October. However, they note that certain conditions for household spending have improved, with inflation remaining low and stable, while employment and wages are showing positive trends.
  • By expenditure components, December showed a broad-based moderation in y/y growth, with notable slowdowns in entertainment, fashion and beauty, and household goods. Only spending on tourism and residential public services exhibited a more positive performance. With this result, the Big Data Private Consumption Indicator recorded 8.8% y/y growth in Q4, down from 10.4% in Q3.
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  • BBVA’s Big Data Private Consumption Index – based on spending on cards and cash withdrawals, adjusted for inflation – continued to slow in December, with growth easing to 6.4% y/y, from 8.4% in November.
  • BBVA says that this reflects the waning impact of pension fund withdrawals by households, which had provided a temporary boost through October. However, they note that certain conditions for household spending have improved, with inflation remaining low and stable, while employment and wages are showing positive trends.
  • By expenditure components, December showed a broad-based moderation in y/y growth, with notable slowdowns in entertainment, fashion and beauty, and household goods. Only spending on tourism and residential public services exhibited a more positive performance. With this result, the Big Data Private Consumption Indicator recorded 8.8% y/y growth in Q4, down from 10.4% in Q3.