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Irish Consumer Spending Rises For Twelfth Consecutive Month: Visa Index

Irish consumer spending has risen for the twelfth, consecutive month, according to the latest Visa’s Irish Consumer Spending Index.

The report which measures expenditure across all payment types (cash, cheques and electronic payments), signalled a +4.4% year-on-year expansion in household expenditure in February.

The research also indicated that pending has now increased on an annual basis throughout the past year, with the latest rise broadly in line with the average seen since the series began in September 2014.

“February’s data underscores the confidence amongst the Irish public, with twelve consecutive months of growth in consumer spending. Valentine’s Day was an important factor in driving the positive performance of sectors such as Hotels, Restaurants & Bars and Food & Drink,” said Philip Konopik, country manager, Ireland, Visa.

On a sectoral basis Household Goods saw the highest rise in expenditure in February (+11.4%).

Konopik added: “The recent bad weather only affected businesses on the last day of February, so we have seen no real impact in this month’s index. However, we can expect the snow to have a negative effect on March’s performance.”

© 2018 - Checkout Magazine by Donna Ahern

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