Retail sales surge 9.9% in May

The volume of retail sales increased by 9

The volume of retail sales increased by 9.9 per cent in May compared to the same month last year, the Central Statistics Office (CSO) reported today.

The CSO said the monthly increase was 1.4 per cent, but if motor trades were excluded, the annual increase was 9.1 per cent and the monthly change 2.2 per cent.

The value of retail sales rose by 10.6 per cent in May compared to the same month last year and increased by 1.5 per cent in the month itself.

The three-month volume figures from February to April show that the largest increase in sales was in the footwear and leather, which rose 14.4 per cent.

The largest decrease was in the food, beverages and tobacco which fell 4.2 per cent, the CSO said.

Business group Ibec said the figures showed the retail sector of the economy remains buoyant. Ibec's Fergal O'Brien said: "The retail sector remains exceptionally strong at present, and the SSIA impact is evident in a number of areas."

"Given that about half of the SSIA accounts matured at the end of April it would have been a major surprise if we hadn't seen a bounce to the retail figures in May," he said.

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