Mexico.- During the first month of 2022, consumption in the Mexican Republic managed to recover its dynamism increasing 2%, compared to the figure in December 2021.
According to what was disclosed by BBVA Research, the behavior of the components of the consumption indicator in the country accounts for a correction on the high spending on services that occurred last December, a factor to which is added the increase in Covid-19 infections as a result of the presence of the ómicron variant, which can cause citizens to minimize the activities they do outside their home.
In this context, BBVA’s research area indicated, regarding gasoline consumption, a decrease of 4.7% during the month of January of the current year, in the case of the first contraction since August of last year.
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“Gasoline consumption, as an approximate to mobility, fell 4.7 percent in January, the first contraction since August 2021, a month severely affected by the delta variant of Covid-19”, indicated the financial institution.
On the other hand, in relation to sales of goods, particularly food spending showed an increase of 2.6%while spending on products linked to cHealth care registered an increase of 17.3%.
Meanwhile, within the services component, spending on hotels showed a decrease of 7.1%, while consumption in restaurants fell 1.1%. Likewise, recreational services had a monthly reduction of 10.5%, while airline sales contracted 31.2%.
“On-line spending registered a monthly variation of 0.8 percent, after the contractions of November and December 2021, reaching in January 2022 an amount of sales equivalent to 2.3 times its pre-pandemic level (January 2020)”, BBVA explained.
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Lastly, the bank maintained that the agile implementation of the complete immunization schedules against SARS-CoV-2 and booster doses are key factors in reducing the negative effects of the pandemic.
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