Volume of retail sales fell 1.1% in November
The volume of retail sales fell by 1.1 per cent in November as demand for electrical goods and fuel decreased dramatically. Sales of electrical goods were down 17.8 per cent in the month, while fuel sales were down 3.2 per cent.
Figures from the Central Statistics Office show that core retail sales have fallen in volume by 0.5 per cent in the year to end of November 2012.
The CSO said that, when motor trades were excluded, the volume of retail sales decreased by 1 per cent in November when compared to the previous month.
Lobby group Retail Excellence Ireland said it was not surprised with the decrease in the volume and value of retail sales in November.
“The kite-flying for Budget 2013 did not help retail sales or consumer sentiment, and caused many consumers to postpone their spend,” said Retail Excellence Ireland chief executive David Fitzsimons.
Meanwhile, the Irish Small Medium Enterprises Association says it “deserves better from the Government”. It called for the establishment of a retail strategy group, and urged the State to improve credit facilities for SMEs.
However an improvement is expected for December following reports of a strong retail performance during the Christmas period. “Given that December was a five-weekend month it is likely that December’s retail sales data will show a bounce back from the disappointing November outturn,” said Dermot O’Leary, economist at Goodbody.