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.
more information about this report, please contact:
Zorgenfreija, Chief Economist Latvia, firstname.lastname@example.org
Ilekyte, Economist Lithuania, email@example.com
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