Bank of Ireland debit and credit card spending in September reveals a reduction in spending across all sectors.
The total monthly spend fell 8% on August’s total. The latest spending trend was in keeping with the same month in 2021 however, when September’s outlay fell by 6% overall.
Social spending fell back quite significantly in September, with the data revealing an overall 16% monthly decline.
Pub spending was down by 28%, outlay in restaurants dropped by 22%, and people ordered less from fast food outlets – which posted a spending decline of 18%.
September spending on hotels and resorts declined by 26%. The Retail sector also witnessed a decrease as spending on men’s and women’s clothing dropped by 12%, supermarket outlay fell by 10%, while florists reduced by 9% and beauty spas reduced by 7%. spending in bakeries spending fell by 19% in September.
The belt tightening is evident across all sections of society, from teenagers (13 – 17) who posted a 23% spending drop, to young professionals in the 26 – 35 age bracket whose spending fell by 10% in September, all the way up to the over 65s whose outlay was 4% lower than in the previous month.
The analysis by Bank of Ireland shows that their card customers in County Tipperary reduced their spending by an average of 8% in line with the national average.
