Analysts warn on potential shock as retail sales surge

Soaring sales of hardware and cars and furniture and lighting — the sectors worst hit during the long years of the financial crisis — were the best performers of the 13 retail business groups in May, but analysts said following the Brexit vote that further strong growth cannot be taken for granted.

The broad-based gains in sales nonetheless will provide some comfort to the new Government as it braces itself for a potential backwash on consumer confidence here from the UK decision to quit the EU.

The CSO said retail sales overall climbed 8.1% in May from a year earlier — driven by a near-20% surge in sales of hardware and paints; a 15.7% rise in motor sales; and a 14.4% rise in sales of furniture and lighting.