FURTHER evidence of the strength of the economy has been provided by the latest figures for retail sales. They show a sharp 1.4 per cent rise in the value of sales in March, leaving them 10 per cent ahead of the same month last year.
In the first three months of 1996 the Central Statistics Office estimates that, adjusted for seasonal factors, retail sales were 4.5 per cent higher than the previous three months and 8.6 per cent up on the same months last year.
Retail sales growth normally varies considerably from month to month, but in recent months sales have generally been buoyant. In January and February sales were running more than 7.5 per cent ahead of the same months last year in value and around 5.5 per cent higher in volume terms after adjustment for inflation. Volume figures for March are not yet available.
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