ALL the signs are that retail sales are running at record levels. The Central Bank has said that almost £2.2 billion in cash is in circulation this Christmas, an increase of more than seven per cent on last year.

While the amount of money in circulation is not a perfect indicator, it does provide evidence of the strong demand for cash in the run up to Christmas, and the growth of the economy over the year.

Meanwhile, the latest figures from the Central Statistics Office show that retail sales were rising strongly towards the end of the year.

The value of retail sales rose strongly in October, growing by a provisional, seasonally adjusted 5.3 per cent over the, previous month.