Consumer confidence to drive headline sales by 7%

Headline retail sales grew by 6.3% last year and are expected to increase by another 6%-7% during 2015, as consumer confidence and disposable income continue to recover.

New CSO data, published yesterday, show the volume of consumer spending increased by 0.5% in December, when measured on a monthly basis, and was up by 5.1% on a year-on-year basis (4.8% when motor trades are excluded from the figures).

December’s value of sales fell by 0.1% when compared to November, but rose by 2.3% when measured annually. The 6.3% rise in overall retail sales volume last year was up from a low base of a 0.7% rise in 2013.