Economy on sound footing as retail sales volume rises 8.6%

THE volume of retail sales increased by 8.6% in February compared to the same time last year, giving a monthly increase of 2.6%.

Excluding motor sales, the Central Statistics Office (CSO) figures show the annual increase was 6.2% while the monthly rise was 3.1%.

Bloxham Stockbrokers chief economist Alan McQuaid said the prospects for consumer spending this year would seem to be quite favourable at this stage.