Credit and debit card spending rises in last week of March

Spending on debit and credit cards rose in the week to March 29th, new data from the Central Bank showed, with online shopping continuing to gain pace.

The data showed a reversal in the ttrend from the previous week when spending declined.

Total spending was 12 per cent higher over the week, but with the impact of the St Patrick’s Day bank holiday, when spending is generally lower, was discounted, like for like spending was 7 per cent higher. The prior week showed a decline of almost 4 per cent in like for like spending.

The shift in shopping trends continued, with online spending up 17 per cent or €90 million. However, in-store spending was also stronger, rising 8 per cent or €42 million.

Consumer spending holds up as VAT receipts help limit Q1 State deficit to €4.1bn

---

Magee introduces redundancy programme due to Covid-19

---

Irish billionaires see a sharp rise in their fortunes

---

More than a quarter of State’s workforce out of work last month

---

All sectors, with the exception of restaurants, were up week on week. Restaurant spending was 4 per cent lower, while the other retail sector showed an increase of 13 per cent.

The Central Bank data captures expenditure of euro-denominated credit and debit cards issued to Irish residents. It consists of total daily debit and credit card spending and ATM withdrawals.