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01/12/2014
Rise In Ireland's Retail Sales
It is estimated that Irish households will spend an extra €650 to €750 in shops this month, compared to other months of the year, according to Retail Ireland.
Key indicators are pointing to the best Christmas for the retail sector since 2009, according to the firm's Retail Christmas Monitor 2014.
The monitor shows more money is likely to be spent in the shops this December (€3,960m up from €3,880m in 2013), representing an annual rise of over 2%.
Retail sales in the first nine months of this year are up 1.5% in value terms on the same period in 2013 excluding the effects of buoyant car sales. This is one of the first signs of a recovery in a retail economy where turnover fell by almost 25% between its peak in 2007 and a low point last year.
Retail Ireland Director Thomas Burke said: "The Irish retail sector has had some very tough years, but there is now cause for cautious optimism. The next few weeks are by far the most important trading period of the year, and key indicators are pointing in the right direction.
"More people are at work, disposable income is rising and the Irish consumer is more positive about the future. This should translate into a really strong Christmas period for the sector. This is good news for the economy; it means more jobs and more tax revenue."
(CD/JP)
Key indicators are pointing to the best Christmas for the retail sector since 2009, according to the firm's Retail Christmas Monitor 2014.
The monitor shows more money is likely to be spent in the shops this December (€3,960m up from €3,880m in 2013), representing an annual rise of over 2%.
Retail sales in the first nine months of this year are up 1.5% in value terms on the same period in 2013 excluding the effects of buoyant car sales. This is one of the first signs of a recovery in a retail economy where turnover fell by almost 25% between its peak in 2007 and a low point last year.
Retail Ireland Director Thomas Burke said: "The Irish retail sector has had some very tough years, but there is now cause for cautious optimism. The next few weeks are by far the most important trading period of the year, and key indicators are pointing in the right direction.
"More people are at work, disposable income is rising and the Irish consumer is more positive about the future. This should translate into a really strong Christmas period for the sector. This is good news for the economy; it means more jobs and more tax revenue."
(CD/JP)
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