Consumer confidence sees food and drink spend rise

People are spending more on food and drink and household goods as consumer confidence continues to grow.

According to Visa Europe’s Irish Consumer Spending Index, consumer spending last month was up 4% when compared to May of last year. This is the ninth month in a row spending has increased. Although a little down on April’s growth of 4.3%, Visa Europe said such a level of spending “points to the ongoing recovery of consumer spending in Ireland in line with an increasingly positive economic backdrop”.

The index is a monthly economic barometer which takes card spending data and adjusts it for a variety of factors to provide an indicator of consumer expenditure in all payment methods.