Portugal and Belgium lead Europe for growth in consumer spending

An overview of changes to consumer spending in ten European markets during the novel coronavirus (COVID-19) outbreak.

Portugal and Belgium report the largest increase in consumer spending in Europe during the novel coronavirus (COVID-19) outbreak, according to data from McKinsey & Company, surveying consumers at the beginning of May.

Over one-third of consumers in Portugal (38%) and Belgium (35%) say they have spent more in the previous two weeks. They're also the only two markets where more people reported an increase than a decrease.