Hotels, Restaurants & Bars leads August growth
Growth in consumer spend was led by the Hotels, Restaurants & Bars category last August where expenditure was up 5.0% according to Visa’s Irish Consumer Spending Index, indicating a stronger expansion than in July.
Growth in consumer spend was led by the Hotels, Restaurants & Bars category last August.
Visa’s ICS Index, produced by IHS Markit, measures expenditure across all payment types (cash, cheques and electronic payments) and this pointed to a 0.4% marginal rise in overall expenditure year-on-year in August, cancelling out a 0.3% reduction in July and thereby ending a three-month sequence of decline.
Food & Drink also posted a return to growth in August, with a rise of 2.7% year-on-year, ending a three-month sequence of decline.
Modest increases in expenditure were also seen in Recreation & Culture (up 1.4%).
