Consumer spending set to grow 5% this year

Irish consumer spending is expected to grow by as much as 5%, in volume terms, this year, despite Brexit effects and monthly retail sales remaining erratic.

Latest retail sales figures, published yesterday by the CSO, indicate a 2.2% monthly rise in January and a 4.9% rise, when measured on a year-on-year basis.

Spending on electrical and DIY goods at hardware shops and department stores were the big growth areas.