Irish people are avoiding pubs and opting not to buy treats, new spending data has revealed.
The grim update comes from Bank of Ireland, who today released its debit and credit card spending for September.
The bank says the data paints a "relatively gloomy picture when compared to the recent summer months" and there are some notable stats involved.
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Among the new release from BOI, facts include:
Total September spending dropped by 8% compared to August
Social spending declines by 16%
Retail sector also takes a hit; supermarket spend down by 10%
The total spending, the bank say, could be put down to summer holidays and a change in the weather no longer enticing people out and about.
But there are some alarming concerns about the hospitality industry.
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%.
As children returned to school and their parents made their way back to the office, September spending on hotels and resorts declined by 26%.
Spending on men’s and women’s clothing dropped by 12%, supermarket outlay fell by 10%, while florists (-9%) and beauty spas (-7%) both witnessed monthly spending declines.
Not one county posted a positive spending score in September, with near double-digit drops recorded in Dublin (-9%), Sligo (-9%), Cork (-8%), Mayo (-8%) and Limerick (-8%).
Commenting on September’s spending data, Jilly Clarkin, Head of Customer Journeys & SME Markets at Bank of Ireland said: “August is usually a month where workers shut down their laptops, children pack for an adventure and holiday season kicks into overdrive. Therefore, it won’t come as much of a surprise for many people to see the September spending stats indicating that consumers nationwide pulled back a little last month and saved up for what could well be a harsh winter."
Other spending habits:
Car rentals -38%
Tourist attractions -31%
Service stations -9%
Newsagents -20%
Restaurants -22%
Hotels/Resorts -26%
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