Retail growth slows as OECD trims outlook for Irish economy

New CSO figures suggest the Brexit-driven sterling slump is finally affecting the pace of growth in retail sales here, as the Organisation for Economic Co-operation and Development (OECD) think tank trimmed its outlook for the Irish economy.

CSO figures for October showed a slowdown in the volume of sales from the heady growth rates posted earlier in the year.

David McNamara, a senior economist at Davy Stockbrokers, said the slowdown could have been caused by consumers spending money online to cash in on the benefits of the currency following the UK vote in June to quit the EU.