Swedbank registers big shifts in consumer spending

  • 2020-05-01
The coronavirus crisis has resulted in a sharp fall in consumer spending, Swedbank says in a new report. The bank's card data shows a 23% reduction in transactions after an initial jump at the start of the coronavirus - likely indicating the point at which people stocked up on provisions. "Week 11, when the COVID-19 crisis was announced as pandemic, the turnover actually rose significantly in all three countries, with consumers frontloading expenditure and stocking up on products," said Swedbank, before adding: "Starting from week 12 ...
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