Ireland retail sales in October up by 3 pct

Ireland’s retail sales in October increased by 3 percent compared with the same month last year, said the country’s Central Statistics Office (CSO) last night.

The “core” sales, which refer to sales excluding motors, in the month rose by 3.2 percent over a year ago, said the CSO.

During the first 10 months of this year, retail sales in the country edged up by 1.8 percent compared with the corresponding period of last year while its “core” sales posted a year-on-year increase of 4.4 percent, it said.

Commenting on the CSO figures, Alan McQuaid, an economist with a local consultancy firm, said in an email sent to Xinhua that the retail sales figures, especially the “core” sales ones for the first 10 months of 2019 suggest that the Irish economy continued to grow at a solid pace during the period.

He believed that personal spending in Ireland will post another positive increase in 2019 as the unemployment rate in the country continues to drop and disposable incomes rise.

He predicted that the 2019 retail sales in Ireland will rise by 2 percent with its “core” sales to grow by 4.5 percent over 2018.

A weaker personal consumption growth is projected for 2020 partially due to Brexit uncertainties, he said.