Ifølge Nordeas Corona Barometer i Finland ser brugen af kontanter ud til at komme vedvarende under niveauet fra før krisen. Mens kortbetalinger har stabilisret sig, er brugen af kontanter faldet med ca. 30 pct. og ser ud til at have fundet sig et stabilt leje.
Corona Barometer for Finland: Card payments remain afloat
Cash withdrawals have decreased during the crisis and, unlike total card payments, have yet to recover back to last year’s levels. The average size of a cash withdrawal has returned back to normal, however.
In contrast to previous crises, consumers are at the forefront of the corona crisis. The negative shocks emanating from the virus have spread quickest to the service sector and consumption side and not on investments and manufacturing.
Therefore, in order to support policy makers and effectively analyse the real-time effects of the coronavirus on economic activity, it is essential to have on-demand data that gives an accurate representation of the consumption side of economic developments. Nordea’s card statistics are exceptional in allowing for this.
We are closely monitoring the latest economic developments in Finland and have launched a new publication series to provide you with the latest updates on a weekly basis. With this new data, it is now possible to get a robust overview of the developments within different sectors and areas of the economy, such as dining, retail sales and leisure.
The main findings of this week’s Corona Barometer are:
- Total card payment volumes are slightly higher compared to the year before.
- Goods sector activity increased further and is over 10% higher compared to the previous year.
- Service sector activity continued on a downward trend and is nearly 30% lower year-on-year.
- Cash withdrawals have decreased during the crisis and, unlike total card payments, have yet to recover back to last year’s levels. The average size of a cash withdrawal has returned back to normal, however.
