The latest Irish retail sales figures released from the Central Statistics Office (SCO) today show that volumes were up 2.2% in January and 4.9% on the year.
Excluding volatile car sales, annual growth was even stronger at 6.1%. Growth was broad-based across sectors and suggests that household spending should make another solid contribution to GDP growth in the first quarter 2017, driven by a rapidly recovering labour market.
Retail sales values, excluding bars and car sales, increased by 3.3% in the year to the end of January pointing to a strong performance over the post Christmas January sales period.
Commenting on the figures, Retail Ireland Director, Thomas Burke said, "Given the disappointing trading levels during the usually busy month of December, it is encouraging to see 2017 start so strongly in terms of activity at Irish tills. Post-holiday sales can sometimes fall flat after a busy pre-Christmas period but it would appear that the reverse is the case this year."
He added, "What is most encouraging is that all retail categories outperformed the same period in 2016 and this should offer hope for the coming months.”
Source: www.businessworld.ie
