Increased spending among teenagers was the only upward curve in July as overall debit and credit card spending fell marginally last month, according to Bank of Ireland.

Their analysis of debit and credit card spending in July recorded a one per cent total monthly fall, as a mixed picture emerged across business sectors.

While other age groups mainly decreased their July spending, teenagers are clearly enjoying their summer holidays with a major spending increase of 17 per cent for the month – a trend which was also reflected in June.

There was a two per cent uptick in social spending throughout July, whilst spending in pubs (+4%), restaurants (+3%) and in fast-food outlets (+1%) all recorded positive figures – having all posted negative spending stats in June.

The improved July weather also saw a spending hike in cinemas of just five per cent, a stark drop from June’s cinema spending rise of 25 per cent.

Overall spending in the retail sector was down three per cent in total, with outlay on clothing (-10%) and groceries (-1%) both dropping, but spending on petrol rose by five per cent as forecourt fuel prices levelled off somewhat nationwide.

Consumers were also evidently not keen to forego their sweet treats in July, with spending in bakeries also rising by five per cent.

For more, read this week’s Connacht Tribune.

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