Retail sales volumes up slightly in September

Retail sales volumes up slightly in September

The volume of retail sales increased by 0.1% in September 2014 when compared to the previous month, according to CSO figures released today.

Figures showed an increase of 5.9% when compared to the same month in 2013, however.

If Motor Trades are excluded, there was a decrease of 0.6% in the volume of retail sales in September 2014 when compared with August 2014 and there was an increase of 3.1% in the annual figure.

The sectors with the largest month-on-month volume increases were Other Retail Sales (+14.7%), Hardware, Paints & Glass (+4.9%) and Fuel (+3.3%).

The sectors with the largest monthly decreases were Furniture & Lighting (-3.7%), Books, Newspapers & Stationery (-2.5%) and Bars (-2.3%).

There was a decrease of 0.2% in the value of retail sales in September 2014 when compared with August 2014 and there was an annual increase of 3.8% when compared with September 2013.

If Motor Trades are excluded, there was a monthly decrease of 1.1% in the value of retail sales and an annual increase of 1%.

"What's very striking about today's release is that it's big ticket items have been leading the way in terms of annual growth in retail sales," said Philip O'Sullivan, chief economist with INVESTEC.

"We've got things like motor trades are up 21% year-on-year, furniture and lighting up 19% year on year and hardware, paints and glass sales up 7% year-on-year".

"What that mind of reflects is that the Irish consumer - after years of belt tightening - has had the confidence now to invest in these more expensive items."

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