Slump tames ‘animal spirits’ of consumers

SHOPPERS’ “animal spirits” are being tamed by increased taxes, job losses and wage concerns, according to Friends First chief economist Jim Power.

The value of Ireland’s retail sales fell 1% in November from October and was 2.6% higher year on year, provisional figures from the Central Statistics Office (CSO) showed yesterday.

The CSO revised its provisional October figure downwards to show a 2.6% decline, from a provisional 2.3% fall, and a 3.9% year-on-year increase from an estimated rise of 4.1%.