Consumer Spending Observer in the Baltics
Transactions: further to the downside
  • Card spending and cash withdrawal in the Baltics somewhat declined as virus case count surged. However, transactions are still holding up better than during the first wave.
  • Card spending and cash withdrawal in Q4 has increased by 3.7% YoY in Lithuania, while in Latvia and Estonia it remained on average around 6% below last year’s levels.
  • Non-food spending is on a downward trend in the Baltics, with negative YoY growth rates in all the countries in the last couple of weeks. Holiday season usually sees increased spending.
  • This Christmas will reflect the change in habits due to Covid-19 – people will spend less on services, but those, who can afford - more on goods and goodies.

PDF-Document Read the full analysis here

For more information about this report, please contact:

Liva Zorgenfreija, Chief Economist Latvia, liva.zorgenfreija@swedbank.lv

Greta Ilekyte, Economist Lithuania, greta.ilekyte@swedbank.lt

This email is sent through the web-based distribution system of Swedbank Macro Research. As a subscriber you can change your settings regarding what publications you will receive by clicking “Change your settings”. You can also unsubscribe from this particular newsletter by clicking "Unsubscribe". Information on the Swedbank Principles of processing personal data can be found here.

Subscribe »
This letter is distributed by Swedbank in cooperation with Brightly. The letter is personal.
You need Adobe Acrobat Reader to show PDF documents. (download here)