Social spending took a significant hit in September but rebounded in October, according to new debit and credit card figures from Bank of Ireland.
They show that social spend was up 5% compared to the previous month, with spending in pubs up 12%, fast food purchases up 9% and restaurant spend up 2%.Spending across the retail sector jumped 7%, with spend on clothing up 14% and groceries up 8%.
"A notable surge in cinema spend may be linked to the release of 'The Banshees of Inisherin' last month, which had people flocking to the big screen," said Jilly Clarkin, Head of Customer Journeys and SME Markets at Bank of Ireland. Ms Clarkin said younger consumers are driving this spending, with those aged 26 to 35-year-olds recording a 7% spike in October, followed by the 36 to 45 age cohort who's spending rose by 5%.
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