Irish retail sales still strong despite slowdown

Consumers are still spending despite the economic slowdown according to figures released today by the Central Statistics Office.

The volume of retail sales (excluding price effects) increased by 3.5 per cent in November 2001 compared to November 2000.

If motor sales are excluded, the annual rise in volume is 3.7 per cent. The value of retail sales rose by 5.4 per cent in November 2001 compared to November 2000.

The November 2001 index was 0.7 per cent higher than October. However, if motor sales are excluded the annual increase is 7.7 per cent.

On a three-month basis, which is a more stable indication of underlying trends, the September-November volume of retail sales rose 2.7 per cent compared with the three months previous.