Tuesday 26 September 2017

Consumers spending again as households shake off austerity shackles - survey

Shoppers on Grafton Street in Dublin
Shoppers on Grafton Street in Dublin
Charlie Weston

Charlie Weston

SPENDING by consumers rose in April as households continue to slowly shake off the shackles of years of austerity, a new survey shows.

The inaugural Visa Europe barometer of card and cash spending shows a 4.3pc rise in April compared with the same month last year.

A strong rise in spending was recorded on food and drink, with an increase also in sales of household goods, particularly those sold in DIY stores.

There was a 9.2pc surge in the amounts of money consumers paid for food and drink.

However, there are some indications that the increased expenditure could be down to discounting by retailers.

The new survey, which carried out by market research firm Markit, found that more money being splashed out on going out and recreation.

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