The torrential rains of DANA which devastated several municipalities in the Valencian Community and Castile-La Mancha last week has logically impacted the spending made by its citizens in stores and other establishments. So much so that Spending throughout the Valencian Community was reduced by 14% last week as a consequence of this event.
This is clear from the first data published on the subject. They correspond to Search BBVA and what are they talking about In-person and card spending reduced by 14%. This is data that the department collects from the use of the entity’s dataphones and its customers’ cards.
This is a considerable impact, considering that DANA affected some specific municipalities and that food spending has not decreased faced with the emergency situation caused by torrential rains.
And this drop in face-to-face spending (collected in dataphone activity) implies a deterioration of 20 percentage points compared to what was observed in the rest of Spain and It also contrasts with the observed evolution of physical consumption over the previous two weeks. as of October 29, when the difference was less than 3 percentage points.
Regarding card spending, it was 19 percentage points lower than in the rest of the country, according to information from the BBVA research service.
Spending in the province of Valencia by residents of other provinces decreased by 8% year-over-year during the reference week and showed a negative deviation from the national group of almost 25 percentage points.
For their part, the spending of residents of the province of Valencia made outside said province decreased by up to 10% over a year and was more than 25 percentage points lower than that of the rest of Spain during the week of the event.
Only the food was preserved
By sector, almost all recorded a sharp deterioration, with the exception of that carried out in foodwhich has actually evolved more favorably than in the rest of Spain.
Logically, the decline was particularly intense in spending on travel agencies, accommodation and catering. Reductions in fashion, automobiles, home, beauty, books and press, as well as sports and toys also stand out.
THE passenger car registrations recorded significant adjustments. Between October 29 and 31, they had a differentially negative behavior in the provinces of Alicante and Valencia, with variations between 60 and 80 percentage points lower than those observed in the rest of Spain.
As for the municipalities concernedBBVA Research breaks down the data by zip codes. A very significant drop results. Concretely, between 80 and 100%, while in the rest of the Valencian Community it does not reach 20%.
The impact on the Gross domestic product (GDP) of the catastrophe, but, as EL ESPAÑOL-Invertia published, there will be one and it will be “sustainable”.
