Shoppers likely to start buying again after VAT cut and scrappage scheme

SHOPPERS are likely to start buying again following favourable announcements in the budget but retail sales still remain weak.

The volume of Irish retail sales fell 9.1% in October compared with the same month last year. Sales, excluding cars, dropped 6.7% from a year earlier, figures from the CSO showed. From the previous month sales fell 1.7%.

All sectors showed year-on-year volume falls, with the most significant declines being motor trades down 24.1%, supermarkets down 3.1%, clothing, footwear and textiles down 6.8%, bars down 8.2% and household equipment down 11.7%.