Abstract:We use a novel card transaction data maintained at the Central Bank of Latvia to assess their informational content for nowcasting retail trade in Latvia. During the COVID‐19 pandemic in Latvia, the retail trade turnover dynamics underwent drastic changes reflecting the various virus containment measures introduced during three separate waves of the pandemic. We show that the nowcasting model augmented with card transaction data successfully captures the turbulence in retail trade turnover induced by the COVID… Show more
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