Four-year plan 'will bring certainty and help retail sector'

Retail Ireland have described as "positive" the new consumer sentiment figures for November which stabilised during the month.

Retail Ireland Director Torlach Denihan said: "The stabilisation of consumer sentiment in November is welcome. It is also worth noting that the major decline in consumer sentiment over the previous four months was not matched by an equivalent further sharp decline in retail sales.

"The combination of the upcoming budget and the recently published four-year plan means that consumers will soon have a greater degree of certainty about the future. This should help more normal consumption patterns to emerge.

"The level of precautionary saving in the economy has been exceptionally high. While consumers remain cautious, there is some scope for the savings rate to fall as people gain certainty about their future incomes."