Daily consumer spending has risen on an annual basis for the first time since the Covid-19 pandemic sent the country into lockdown, Revolut's latest monthly spending figures reveal.

Overall spending by Revolut users in Ireland in August was up by 4% compared to the same time last year, according to data from the digital banking app.

The monthly analysis of spending data from Revolut shows a strong recovery in consumer spending despite the continued restrictions on pubs, restaurants and other areas of the hospitality sector.

Revolut has over a million customers in Ireland.

It said the spending growth was mainly driven by the move to people working and entertaining themselves at home. 

Revolut said it saw "explosive" growth in spending on digital goods – including games, apps, movies and books – last month. 

Spending on digital content is up 155% year on year; while it surged 152% on apps and 140% on games. 

Meanwhile, spending in hardware stores was up 91%, with spending in garden centres jumping 102%, while spending in furniture stores rose 60% and in appliance shops by 12%, as people spent more on their homes. 

It also noted a big increase in spending on pets, which began to soar after lockdown, and is now 92% above the same time last year.

Revolut's figures also show the hospitality industry started to show the first tentative signs of recovery from the depths of lockdown in August.

Spending by Revolut's Irish users in restaurants was up 19% in August compared to July. Spending in hotels rose by 37%, while it grew by 29% in museums and tourist attractions.

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But the sector is still suffering significantly compared to last year, with spending in restaurants still down by 33%, in hotels down 12%, and in museums/tourist attractions down by 27%. 

Spending on airlines this August was down 64% compared to the same time last year, Revolut also said. 

But spending Revolut users at golf courses was up 85% this August compared to last year, the digital app also reported.