Irish consumer spending rises for twelfth successive month, according to Visa Index

Irish consumer spending rises for twelfth successive month, according to Visa Index

Visa have revealed that consumer spending in Ireland has increased for the 12th month in a row.

The firm's Irish Consumer Spending Index, which measures spending across all payment types (cash, cheques and electronic payments), showed a 4.4% year-on-year rise in household expenditure in February.

It is down from the 5.4% increase seen in January, but it shows spending has now increased on an annual basis throughout the past year.

The strongest increase was seen in Household Goods at 11.4% year-on-year, while there were also sharp spending rises in Transport & Communication (+6.5%), Recreation & Culture (+6.5%), Hotels, Restaurants & Bars (+6.2%) and Food & Drink (+5.8%).

They said that Food & Drink’s growth in February was the fastest seen since April 2017.

The Clothing & Footwear (+2.6%) and Miscellaneous Goods & Services (+0.4%) sectors saw only modest expansions, with Health & Education the only category to see a drop in spending on an annual basis (-2.0%).

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