Real-time retail consumption tracker for June 22 – 28, 2020
Between June 22 and 28 consumer spending slid 1.7% from the week before and is down 7.5% y-o-y.
Sales of both products and services declined despite the further relaxation of coronavirus-related restrictions.
No significant increases in general spending have been registered for two weeks running.
According to our flash estimate, household consumption shrank 8.5% y-o-y in June and lost 8.8% y-o-y in 1H20.
Initial recovery is coming to an end, with further growth to depend on the evolution of payrolls as well as the reopening of industries still restrained because of the coronavirus restrictions.
The June data also allows us to assume that online shopping figures will remain approximately 25% higher compared to what was seen before self-isolation.