Hospitality spend up 5.5%
Ireland’s Food & Beverages sector posted a rise of 5.7% in April for the first time in three months according to Visa’s Irish Consumer Spending Index, produced by IHS Markit, which measures expenditure across all payment types (cash, cheques and electronic payments).
20 May 2019 | 0
The Index pointed to a second successive increase in general spend during April as expenditure was up 1.2% year-on-year following a 2.7% increase in March.
However, the report added, “Although in positive territory for the second month running, the CSI pointed to a relatively modest pace of growth compared with the series history”.
The timing of the Easter holidays compared to last year has impacted on sector performance in recent months as the data are not adjusted for seasonal factors, points out the report.
At 5.7% the Food & Beverages sector posted a rise for the first time in three months. This was helped in part by the good weather and the lack of the Good Friday alcohol ban for the second year in a row.
Increases in expenditure were also recorded in the Hotels, Restaurants & Bars sector which showed an increase of 5.5%.
“There was some seasonal cheer in April thanks to spells of good weather and Easter which benefited a number of categories such as Household Goods and Food & Beverages,” said Visa Ireland’s Country Manager Philip Konopik.