Consumer spending weakening, says CSO
Irish retail sales measured by volume rose 0.7% in March from the previous month, the CSO said. Measured by value, retail sales fell 0.1% from February but rose 5.1% from the same month last year. The overall IIB Bank/ESRI Consumer Sentiment Index weakened to 66.5 in May. This compares to a figure of 68.4 in April.
However, despite the spending slowdown and drop in sentiment, the Irish economy will probably expand by 3.2% this year, faster than any other country in the European Union, the Organisation for Economic Co-operation and Development said.
