Consumer spending increased by 13% in May

business
Consumer Spending Increased By 13% In May Consumer Spending Increased By 13% In May
Social spending in May rose by 14 per cent, with pubs enjoying a 21 per cent spending spike
Share this article
Amy Blaney

Consumer spending increased by 13 per cent in May compared to April as customers boosted sales in the hospitality sector.

Social spending in May rose by 14 per cent, with pubs enjoying a 21 per cent spending spike, while spending in fast-food outlets increased by 15 per cent, and restaurant spending increased by 14 per cent.

The spending data from Bank of Ireland debit and credit card analysis also revealed that accommodation spending went up by 12 per cent last month. Camp sites filled up nationwide with spending increasing by 170 per cent and hotels experienced an 8 per cent spending boost.

The travel industry also seen an increase in consumer spending, with boat Rentals up by 50 per cent, car rentals by 26 per cent, and outlay on Toll Bridges and Roads rose by 11 per cent.

Video news
Video: Coveney calls on UK to engage in talks over...
Read More

There was also a demand for pampering, with Health and Beauty Spas recording a monthly spending hike of 13 per cent.

Advertisement

As pandemic restrictions lifted on airlines, spending in some traditional holiday destinations remained steady, whilst a host of travellers flocked to the likes of Croatia (+65 per cent), Norway (+65 per cent) and Sweden (+21 per cent).

 Jilly Clarkin, Head of Customer Journeys at Bank of Ireland said: “Whilst April’s spending levels painted a mixed economic picture consumers certainly didn’t hold back in May, sparking an overall spending rise of 13%.

“Also notable was the marked increases in spending amongst the different age groups, with 18 – 25 year-olds producing a spending hike of 16 per cent, outlay in the 26 – 35 age cohort rising by 15 per cent and teenagers (13 – 17 year-olds) leading the way (+21 per cent) as the end of the school year approached for secondary school students.”

Read More

Want us to email you top stories each lunch time?

Download our Apps
© BreakingNews.ie 2022, developed by Square1 and powered by PublisherPlus.com