September consumer spending up 6%

STRONG consumer spending figures for September have prompted NCB stockbrokers to put Arnotts on their buy list.

NCB analyst John Kelly said very strong retail sales numbers reported by the Central Statistics Office (CSO) show a 6% increase in September over August in total volume. The increase is 3.3% when cars sales are excluded.

“We won’t get the breakdown of sales for September until next month so, apart from some recovery in car sales, we don’t know exactly what drove such big monthly numbers.