15/07/2008

CSO Report Retail Slump

Retail sales have plummeted over the past year.

According to the Central Statistics Office the volume of sales has slumped by 4.8% between May 2007 and May 2008 - that's the biggest fall in more than 21 years.

The value of retail sales wasn't largely affected as rising prices mean the value - as opposed to the volume - was down just 1.6% year on year.

Half the decrease in the past year has been attributed to the sharp fall in the motor trade.

(GK/JM)

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