Total card spending, including ATM withdrawals, fell 2% cent, (or €147 million) in October 2021 compared with the previous month, new Central Bank data shows.

This equated to €7.3 billion, a decrease of 2% (or €147 million) compared with the previous month. 

In annual terms, however, an increase of 15% (or €973 million), was recorded.

Online spending

Online spending in October dropped by 5% (or €141 million) compared with  the previous month, while in-store spending was unchanged.

Card expenditure outside of Ireland declined by 3% compared with September, although it was 114% higher than in October 2020.

The latest daily data to 21 November, however, shows that total spending increased during the month, with the total 3% higher – (up €166 million) on the same 21-day period in October.

Social activity spending

People spent more on social activities (+4%) in October compared with the previous month, with restaurant and entertainment spending increasing by 3% and 5%, respectively. 

Spending on education fell sharply in October, declining 66%, month-on-month. This reflected seasonal decreases following the beginning of the academic year in September. 

Point of sale spending

Point of sale (PoS) spending was 2%  lower in October compared with the previous month, at €6.2 billion.

In annual terms, PoS spending was 17% higher than October 2020. ATM withdrawals, however, were down by 2%, month-on-month, to €1.1 billion.

Despite increasing in annual terms, ATM withdrawals remain subdued compared with pre-pandemic levels, and are 30% below October 2019.

The volume of PoS card transactions remained flat in October compared with September, and 20% above October 2020 levels. 

The average value of transactions decreased by 2% from September 2021, to just under €44 per transaction.

Retail spending

Retail spending jumped 2% in October compared with September 2021. Spending on clothing saw the largest percentage increase of 5% (or €15 million) in monthly terms.

In annual terms, retail spending was broadly in line with October 2020, but the notable increase of 15% in spending on clothing was offset by a 17% decline in spending on electrical goods.

In annual terms, spending on services is up 47% – driven by transport (€212 million), and accommodation (€171 million).

Social spending increased by 4% compared with the previous month, and 65% compared with October 2020. Restaurant spending grew by 3% (or €14 million) compared with September. This represented a 112% increase  on October 2020.

Entertainment spending was up 5% (or €12 million) in October, compared with the previous month. 

Total in-store spending remained flat at €3.4 billion. This represents a 21% increase, however, over October 2020 levels.