Growth of spending on grocery and pharmacy back on the normalized level, while a huge cumulative drop is observed in all other categories – such is the assumption of TBC Capital’s most recent ‘Tracking the Recovery’ report.
According to Georgia’s leading Investment Bank, at 57% YoY in the 1-7 December period, growth in resident non-cash spending on grocery & pharmacy increased compared to the previous week, making it back to its normalized level. While, in the same period, Growth of non-cash spending on categories excluding grocery and pharmacy plummeted to -54% YoY, “mainly reflecting the renewal of mobility and economic activity restrictions” – TBC Capital said.
