Monday 17 June 2019

Retail sales increase in November

(Stock image)
(Stock image)
Gavin McLoughlin

Gavin McLoughlin

Irish retail sales increased 0.4pc year-on-year in value terms in November, excluding the motor trade.

Sales of electrical goods (up 6.8pc) and bar spending (up 4.1pc) – helped the volume of sales grow 0.2pc compared to October of year.

Sales volumes of pharmaceuticals, medical and cosmetic articles fell 7.5pc.

Merrion Capital economist Alan McQuaid said the figures were weaker than expected, but that consumers were still spending solidly. Sales volumes excluding the motor trade rose 1.9pc.

“Retail sales continue to remain erratic on a monthly basis and are still swinging back and forth, but the underlying trend is positive," Mr McQuaid said.

"Even with the fluctuation in consumer sentiment, overall personal spending has been positive in the past couple of years, boosted by the increase in the numbers employed in the country.

"This is despite the fact that the weakness in sterling since the June 2016 “Brexit” referendum has enticed some shoppers to spend in Northern Ireland."

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