May 28, 2013

Irish annual retail sales down 0.5% in April: Central Statistic Office

Irish retail sales volume dropped by 0.5% in April 2013, representing a second consecutive fall in the annual figures, according to the Central Statistics Office (CSO).

By admin-demo

Irish retail sales volume dropped by 0.5% in April 2013, representing a second consecutive fall in the annual figures, according to the Central Statistics Office (CSO).

Upon exclusion of motor trades, the sales volume declined by 0.3%, year-on-year.

Retail sales volume, however, recorded an increase of 0.2% in April 2013 compared with March 2013

The month-on-month figure of the same was down by 0.3%, when motor trade value was excluded.

Retail sales value, meanwhile, witnessed a decrease of 1.4%, when compared to sales value in the same month of previous year.

Based on month-on-month recordings, retail sales value was up by 0.3% in April 2013.

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Exclusion of motor trade, annual retail value was down by 1.2%, while the monthly value reported a dip of 0.7%.

Reacting to the CSO’s annual sales report, Retail Ireland, the IBEC group, stated that the figures evidently demonstrate the need of formulating measures to safeguard domestic economy.

The value of sales, excluding motor trades and bars, fell by 0.8% in April 2013 compared to the same month in 2012, it added.

Retail Ireland director Stephen Lynam remarked that the figures are raising concerning and it represents a reverse of overall growth
spree that the country witnessed in 2012 and early 2013.

"The worst hit sectors in April were clothing (-5.8%), books (-5.2%) and furniture (-5.1%)," revealed Lynam.

"It wasn’t all bad news, however. Supermarkets, department stores and electrical outlets saw increases in sales. Prices are down
across the board so consumers can avail of huge value in shops throughout the country."

The retail group further urged the government to put in efforts to until budget season to gain customers’ confidence and encourage them to spend.

"Until that happens, the domestic economy cannot hope to see growth," concluded Lynam.