Consumer spending fell in July for the first time since January, according to a survey from AIB.
AIB's latest Spend Trend recorded a 0.5% dip in consumer spending in the month - following strong growth in recent months.
Despite the fall, consumers were still spending around €87m a day during the month.
Certain sectors also saw growth in spending, particularly those connected to domestic tourism.
Spending in hotels was up 13%, pubs and off-licences saw spending increase by 11%, while restaurant spend was up 5%.
However spending on airline travel was down 8.5%, with all other sectors registering some decline.
"As is typical in the later summer months when fewer holidays are being booked, consumers spent less on airline travel, but spending in the sector is much higher than last year when Covid-19 travel restrictions were still prominent," said AIB's head of SME banking, John Brennan. "
According to AIB, spending on clothing was down 7%, health and beauty spend fell 6%, while hardware sales were 5% lower.
The survey found that one in ever seven euro spent in the month was via 'digital wallet' apps like Revolut or Apple Pay.
"Digital wallet payments are up 6%, showing how increasingly popular the cashless payment method is becoming with the public," said Mr Brennan. "They are now spending nearly €13 million euro a day by tapping their phones and watches."
Meanwhile Friday, 29th July was the busiest day of the month for spending - as many consumers' pay-day landed just before the August Bank Holiday weekend.
