Retail sales hike after boost from TV sales for Saorview switchover
Published 28/11/2012 | 11:30
PEOPLE snapping up TVs for the switchover to new digital signals created a buying spree for electrical retailers last month.
New figures from the Central Statistics Office today show a 25pc jump in sales of electrical goods.
This helped the volume of overall retail sales to jump by 1.7pc in October - one of the biggest rises so far this year.
Retailers have reported that so many televisions, new digital receivers and aerials were bought that “it was like Christmas sales doubled” in the past few months.
The ending of analogue television transmissions in October meant that anyone with old TV equipment had to replace it to receive Saorview, the new national digital terrestrial television service.
Saorview became the primary source of broadcast television in Ireland following the ending of analogue transmissions on October 24.
The CSO figures also show a rise in sales of books, newspapers, stationery and fuel.
"As things currently stand we now believe personal spending will fall 1pc on average in real terms this year, as against our last published projection of a 2pc decline," said Alan McQuaid, economist at Merrion Stockbrokers. "This should also mean that GDP growth in 2012 will be higher than envisaged before."