Workers who have contributed so much need to be given a little hope
IT HAS been a difficult week for business and economic news. On Thursday we learned that Ireland's economy had tipped back into what amounts to 'recession' with record falls in exports and in domestic demand. Yesterday we got information on retail sales which was only middling at best. True, the volume of sales held its own last month with a fractional 0.1pc rise when compared to the month of April. But the full-year figures revealed a fall of 0.7pc and the importance of car sales definitely showed here.
Once the motor sector was excluded from the sales data, the overall yearly figure remained unchanged and the month of May showed a 1.4pc increase.
During May, hardware sales performed best with volumes rising by 14pc. The food and drink sector showed a 5.2pc rise but the motor trade sales volumes fell by 5.5pc.