Motor sales drive 6.2% retail growth

Strong motor sales drove a 6.2% increase in the volume of retail sales in May, compared to the same period last year. This represents a 0.9% monthly increase from April of this year, according to figures released by the Central Statistics Office (CSO).

Excluding motor sales, a decrease of 0.5% was recorded, compared with April 2014. This, according to Davys stockbrokers chief economist Conall MacCoille, is understandable given the strong growth the previous month.

“Today’s data suggests that the recovery in Irish retail spending evident in early 2014 has been sustained into the second quarter of the year. Retail sales rose by 0.9% in May and by 6.2% year-on-year.