Retail Ireland: CSO Sales Increase Points To Increasing Consumer Confidence
Retail Ireland has welcomed the continued recovery in retail sales evidenced in the August retail sales numbers, issued by the CSO on Monday (28 September).
Retail sales values, excluding bars and car sales, increased by 3.3% in the year to the end of August, with the Ibec group saying that this indicated ‘a continuing improvement in consumer confidence in the first eight months of the year’.
"It is good to see 11 of the 13 categories of retail as measured by the CSO numbers grow in value in the year to the end of August 2015,” said Retail Ireland Director Thomas Burke.
“We can now have real hope that the retail sector will out perform initial estimates of consumer spending growth of 2.5% in the full year 2015. With expectations of further tax cuts in the upcoming budget, there is now real belief that the sector can continue to grow in line with improving consumer spending power."
Burke did warn, however, that the disparity between volume and value growth “remains a concern and will make it difficult for retail businesses to recover the currently increasing trading costs in the marketplace.”
© 2015 - Checkout Magazine by Stephen Wynne-Jones