‘Black September’ for retail trade

RETAILERS have said it was a Black September as shoppers cut back spending on electrical goods, furniture and ladies fashion.

Irish retail sales levels fell at a faster rate in quarter three compared with quarter two, according to Retail Excellence Ireland (REI), which said consumers are “frozen with fear”.

Sales levels fell by just over 6% on an annual basis in the third quarter, increasing from a rate of decline of 3% and just under 6% in the first and second quarters respectively. September recorded the 43rd consecutive month of sales decline.