Rapidly slowing vehicle sales last November were largely responsible for the dip in retail sales that month, according to new data from the Central Statistics Office (CSO).
According to the CSO the volume of retail sales fell by 0.6 per cent - the weakest for 2007 to date - compared with October.
In the month the volume motor sales dropped by 4.4. per cent. Included in this sector is petrol station sales and cars. Bar sales also declined sharply compared with October.
Responding to the data IBEC said that despite a slow-down in the retail sector at the end of the year 2007 remained the best year since 2000.
IBEC senior economist Fergal O'Brien said: "There is no doubt that the rate of growth in retail sales has slowed significantly in recent months, but this has been off an exceptionally strong base over the past 18 months or so.
"Overall, we expect the retail sector to record in excess of 6 per cent growth for 2007 and last year is likely to have been the best year for the sector since 2000."