Retail Ireland, the Ibec group that represents the retail sector, today welcomed the encouraging increase in retail sales, the value of which increased by 2.2% in the year to the end of July, excluding bars and car sales.
This comes off the back of a strong performance in June, when sales increased by 1.8%. The increase over both months suggests the retail recovery is beginning to take hold following anaemic growth over the last 12 months. Overall retail sales growth is now in line with the predicted 2.5% increase in consumer spending in 2015.
Categories such as fashion and furniture and lighting performed well during a buoyant summer sales period resulting in a strong volume growth of 62%. Other categories performing well in July included electronics and department stores.
Retail Ireland Director Thomas Burke said: "It is encouraging to see strong growth in both the value and volume of retail sales in July. The good news, however, is not universal with bad summer weather impacting categories such as hardware and DIY, which fell a concerning 3.7% in the month.
Overall the performance of the retail sector during July has been positive. It's crucial that this momentum is not lost. The Government has the perfect opportunity in the upcoming Budget to cement the recovery by reducing income tax and putting more money back into the economy."
© 2015 - Checkout Magazine by Niall Swan