Irish consumer spending rose by 6.4% in the year to July, outperforming the annual June growth figure (+6%), showing a limited impact so far on the sector from Brexit.
The figures, from Visa’s Irish Consumer Spending Index, show household spending has risen throughout the 23 months of the series, with the July increase quicker than the average for the entire period.
Online spending continued to drive the overall increase, with annual growth of 9.9% for July, although this was the slowest rate of growth recorded since March.
However, high-street expenditure in July (+4.8% annually) grew at a quicker rate than June (+1.9% annually).
According to Visa, the sector with the most spending last month was recreation & culture, which saw 11.5% year-on-year growth.
Categories covering food; beverages & tobacco; clothing & footwear; and hotels, restaurants & bars also showed improvement in July.
Commenting on the data, Ireland County Manager with Visa Philip Konopik said: “While there is some economic uncertainty at the moment, we have not seen an impact on Irish consumer expenditure as yet with household spending continuing to rise.
“The overall rate of growth in July was slightly stronger than the 23-month series average and all sectors saw an increase in spending during the month.”