Retail sales fall again in August – down 3.6pc on year
Published 28/09/2011 | 11:25
Irish consumers are still shying away from the shops with the volume of retail sales down by 3.6pc in August compared with last year.
New figures from the Central Statistics Offices also show that volumes fell 0.4pc compared with July.
And when car sales are stripped out, the figure is down 3.7pc on an annual basis and 0.5pc monthly.
Electrical goods was the only sector that recorded an increase, up 2.1pc.
The value of retail sales also fell in August – down 3.1pc compared with last year and by 0.8pc on a monthly basis.
IBEC’s Retail Ireland said the new CSO retail sales figures for August show that the value of core retail sales (excluding cars and bars) continues to decline year on year and month on month.
Director Torlach Denihan said: "The continuing year on year decline in core retail sales is a continuation of a downward trend that has been there since 2008.
“The crux is the lack of consumer confidence, something that only Government can help restore.
"Unless and until consumers have a clear line of sight regarding their household finances and feel better about their employment prospects they will remain reluctant to spend.
“The Budget in December will have an enormous impact one way or another and we ask that it prioritises measures to support the domestic economy.
“The majority of employment is in the domestic sector so a recovery in domestic demand is critical for both retail and the wider economy."