HORECA November spend up 4.2%

Restaurants & Bars sector witnessed growth of 4.2% in November according to Visa’s Irish Consumer Spending Index.
Restaurants & Bars sector witnessed growth of 4.2% in November according to Visa’s Irish Consumer Spending Index.

A 3.4% increase in expenditure was seen across the Recreation & Culture sector during November while the Hotels, Restaurants & Bars sector witnessed growth of 4.2% according to Visa’s Irish Consumer Spending Index, produced by IHS Markit which measures expenditure across all payment types (cash, cheques and electronic payments).

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21 December 2018 | 0

But the only sector to see growth quicken in November was Food & Drink, where spending was up 3.0% year-on-year. This was the fastest increase since August.

Overall Visa’s ICS recorded a modest year-on-year increase of 1.0% in consumer spending in Ireland, representing the weakest growth in just over a year, slowing from 4.0% in October.

Face-to-Face spending was down 4.3% year-on-year, the first reduction since August 2017 and amongst the sharpest since the series began in September 2014.

 

 

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