Retail sales bounce back despite Brexit worries

Retail sales bounced back from a weak start to the year, rising by 2.1 per cent in February despite fears that consumers were tightening their belts amid the Brexit uncertainty.

The latest Central Statistics Office data indicates sales were up by 5.1 per cent on an annual basis in February.

If car sales are excluded, there was an increase of 1.4 per cent in the volume of retail sales in February when compared with January and an annual increase of 5.3 per cent.

The sectors with the biggest monthly increases were clothing, footwear and textiles, which rose 8.1 per cent, while car sales increased by 7.6 per cent.

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The sectors with the largest month-on-month volume deceases were other retail sales, which includes certain types of internet purchases, down 3.9 per cent, and books, newspapers and stationery, down 3.1 per cent.