The total amount spent on debit and credit cards as well as ATM withdrawals increased by 12% in May compared to April, new Central Bank figures show.
Total spending reached €8.5 billion during the month, up €888 million on the previous month.
When compared to May last year, when public health restrictions were in place, spending was up 25% or €1.7 billion.
The figures show that ATM withdrawals continue to remain subdued compared to pre-pandemic levels, and were 10% below February 2020 figures.
Total card spending outside of Ireland increased by 12%, or €44 million, when compared to the previous month.
When compared to last May, this represents an increase of 170%, or €259 million.
According to the figures, total retail spending increased by 10%, or €312 million in May compared to April.
Spending increased across all retail sectors on a monthly basis.
Compared to May of last year, when public health restrictions were in place, total retail spending increased by 5%, or €174 million, driven by spending on clothing, which was the sole retail sector to record a year-on-year increase, rising by 12%, or €38 million.
Spending on services recorded a strong year-on-year increase of 65% or €690 million.
The headline increase was once again predominantly driven by increased spending in the transport and accommodation sectors, which rose by 239% and 314%, respectively.
All services sectors recorded year-on-year and month-on-month increases.
Total social spending increased by 13% in May compared to April.
When compared to the previous year, social spending increased by 85% or €385 million.
This was largely driven by an increase in restaurant spending, which rose by 130% or €305 million, while spending on entertainment increased by 48% or €91 million.
Total in-store spending amounted to €4 billion in May, an increase of 12% or €417 million on the previous month, and represented an increase of 30%, or €906 million, when compared to last May.
Meanwhile, total online spending increased by 13%, to €3.3 billion, compared to the previous month and saw an increase of 22% when compared to May last year.
