• Green shoots reach 75% of the city

If we were running a race, February in Madrid would have achieved

the silver medal

, remaining in second position, behind a winning September in the recovery of consumption compared to before the Covid.

February 2021, with a 43% drop in consumption on the streets of Madrid, brings the positive news, being the second best month of the entire pandemic, only behind September 2020 (-37%).

As stated by Pablo Beltrán, CEO of Truebroker, "it remains to be ascertained in the following months if it has been an isolated event, due

to a psychological rebound

, as he can leave after the impact of the snow has ended in the first fortnight of January, which prevented us from going out to buy, or if

the trend

consolidates and manages to

maintain another month

".

Madrid in February improved even more than it already did in the second half of January, in which

there was already a rebound in consumption

, as they were able to go out to buy after being

imprisoned

in the first fortnight by

Filomena

.

So the trend, although soft, is clear and also generalized in 75% of the city.

Information that clashes with the data of the pandemic, which in recent days place Madrid in the third city with the highest rate of infections, showing around 250 cases per 100,000 inhabitants, the third city at risk after Ceuta and Melilla.

Beyond the numbers

Beyond the numbers, the iTB says that Madrid continues its tendency to fight centimeter by centimeter in the conquest of the recovery of consumption, and that

Madrilenians want to go out to buy and recover their

consumption

life

at street level.

The clear trend to recover consumption began in

Fuencarral street

, although little by little the local downtown area and the Salamanca district were added.

In December it was believed to detect that the tourist center area was beginning to start the same recovery trend, something that

has been consolidated in February

, which has been its best month in consumption during the entire pandemic.

Madrid

has broken a psychological barrier

, with a generalized recovery trend, since the office area, with -46.6%, hits the table by throwing, like the tourist center area, the best month of all the Covid.

Slow but solid trend

The trend is clear towards a slow recovery in consumption, but solid and fragile at the same time, only still pending in a single area of ​​Madrid, the residential neighborhoods, closely linked to the basic shopping basket and food, and that with -73%, although it is its second best month, it is still

far from being able to see a clear tendency to improve

.

However, having increased seven points compared to December and 1.5% compared to January, it is also showing a beginning of tension prior to

launching a clear improvement

and maintaining a tendency to recover, which we can only consider crossed the recovery barrier at least 50% of consumption.

"We can say - says Pablo Beltran, CEO of Truebroker - that mentally Madrid

is in a clear trend of recovery

of generalized and continued consumption, although still fragile and weak, since there are still strong restrictions in terms of opening hours of shops, much more restrictive than we had in September, which shows that as soon as the restrictions are eliminated

,

consumption figures will improve throughout Madrid

, although they will still be below the pre-Covid state. When this is added to the end of the fear of contagion in society, consumption

is going to recover quickly

. "

According to the criteria of The Trust Project

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