Friday 19 January 2018

Slump in car sales pulls consumer spending down again reporters

RETAIL sales fell 0.8pc in September, the third monthly drop in a row, new figures show.

The slump came as car sales dropped by 3.4pc following on from the ending of the car scrappage scheme this summer.

Sales are down 3.9pc compared with this time last year, the biggest annual drop since April, according to the Central Statistics Office.

Furniture and lighting sales fell 4.2pc in the month or 11.7pc annually while other sectors that showed decreases included hardware, paint and glass.

Food sales dropped 2.8pc during September but sales of electrical goods were up 2.7pc.

The CSO figures also show that the value of retail sales - which takes prices into account - decreased by 3.3pc in September on a yearly basis and by 0.6pc on a monthly basis.

Retail Excellence Ireland said that September was the 43rd month of consecutive retail sales decline.

"Continued uncertainty over the euro crisis and further job loses helped keep consumer confidence at record low levels. September was also back to school and college month and this placed significant financial pressure on a large number of households, resulting in many other discretionary sectors suffering,'' commented REI's chief executive David Fitzsimons.

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