Bank of Ireland debit and credit card spending in August 2023 was broadly flat with a 0.4% increase, compared to July’s spending according to the latest Bank of Ireland Spending Pulse.
There was a 19% spending spike at tourist attractions and 11% at amusement parks during the final few weeks of the school holidays. With back to school spending, bookstore spending shot up by 39%, shoe store outlay rose by 11% and children’s clothes went up by 5%.
Spending in the accommodation sector throughout August dropped by 4%, while social spending also fell by 8%.
Pub spending dipped by 4% and people spent 3% less in fast-food outlets.
Popular European destinations all recorded spending drop offs, such as France -20%, Portugal -18%, Italy -16%, Greece -15% and Spain -13%.
Leitrim was the only county to report a monthly spending spike of more than 2%. Donegal, Laois, Longford, Mayo and Wicklow were the only other counties to record positive spends.
Jilly Clarkin, head of customer journeys & SME markets at Bank of Ireland said: “We saw in July that people flocked indoors to escape the wet weather, and hope sprung that a brighter August would spark a spending rebound. However, a mixed month weather wise saw flatlined spending across a variety of sectors, although tourist attractions proved popular and families ‘suited and booted’ the kids for the return to school.
“The Bank of Ireland Spending Pulse painted a mixed picture over the summer months, with a drop in June being followed by a slight hike in July, and a clear levelling off in August. Given that September last year was somewhat gloomy on the spending front (-8% compared to the previous month), retailers nationwide will be hoping for sunnier spending times on the horizon.”