Business Irish

Wednesday 24 May 2017

Retail sales decline shows signs of easing

The annual sales decline has eased. Photo: Bloomberg News
The annual sales decline has eased. Photo: Bloomberg News

Colm Heatley

Retail sales declined in November as a slump in sales of household goods and the decline in trade at pubs persisted.

Retail sales, excluding cars, dropped 5.4pc, the Central Statistics Office in Cork said today on its website. From October, sales rose 0.3pc.

Consumers cut back on spending as unemployment grew and the Government raised taxes. Still, the annual sales decline has eased from as much as 10pc in the first half of 2009 and the pace of jobless claims has slowed, adding to signs that we may have passed the worst of the recession.

Including cars, retail sales decreased 8.2pc in November after a 9.1pc drop in October. Car sales plunged 24.5pc in the year, while sales of household goods fell 10.8pc. Clothes sales were down 2.3pc while sales at bars declined 12pc.

Bloomberg

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