Various sectors such as construction, supermarkets, household items, telecommunications and medicine have started to recover, and this trend will continue over the rest of the year,
Scotiabank has reported.
"We believe that recovery begins when people trust their own businesses and the market. It is time to get back on track and boost growth again, buying and selling," Scotiabank Peru Senior Vice President of Retail Banking & CMF Ignacio Quintanilla affirmed.
"We see with enthusiasm that consumption through debit and credit cards is higher than it was in the same month last year in some sectors of
the economy," the executive stated.
He referred to the use of debit cards, saying the
construction sector posted the highest growth, almost doubling the consumption registered in July 2019.
On the other hand, consumption saw an increase of 46% in supermarkets, 42% in household items, 36% in telecommunications, 29% in medicine, as well as 25% in food and groceries, compared to last year.
Under a similar scenario, the use of credit cards showed an improvement in consumption.
Segments such as life insurance and home improvement post gains of 5% and 3%, respectively, when compared to the same month in 2019.
In the case of restaurants, travel and accommodation, figures are significantly lower than those reported the year before, due to the situation.
"Restaurants, travel and accommodation still struggle to recover, due to the current situation," Quintanilla added.
(END) NDP/RMB/MVB
Published: 8/8/2020