Retail sales ended the year strongly, and this momentum should be sustained as consumers begins spending their SSIA money, according to sales figures released today by the Central Statistics Office.
The volume of retail goods sold in 2005 was 4.9 per cent higher than in 2004. Core retail sales, which excludes the volatile motor trades, were ahead by 5.4 per cent.
Trading over the key Christmas period was buoyant with sales of "textiles and clothing" up 9.3 per cent. There was also some cheer for the licensed trade which has come under pressure since the smoking ban.
Overall, sales increased 3.1 per cent in the second half of 2005, the best half-year for five years.
Early indications such as consumer sentiment surveys suggest that consumer spending was at least as robust in January.
New car sales reached a new record for that month as consumers are willing to splash out on big ticket items ahead of the SSIA windfall.