September retail sales 5.9 per cent higher year-on-year

The volume of retail sales rose by 5.9 per cent in September, when compared to the same month last year, according to new figures from the Central Statistics Office (CSO).

However, on a monthly basis, the volume of retail sales increased just 0.1 per cent between August and September of this year.

If motor trades are excluded, there was a decrease of 0.6 per cent in the volume of retail sales in September 2014 when compared with August 2014 and there was an increase of 3.1 per cent in the annual figure.

Goodbody Stockbrokers said retail spending failed to benefit from renewed optimism in September, a month when consumer confidence hit an almost eight year high.

“Given the improvement in sentiment, the muted nature of sales in September is somewhat of a surprise. However, concerns about water charges or possible changes in the Budget may have played a role,” Goodbody chief economist Dermot O’Leary said.

The sectors with the largest month on month volume increases included hardware, paints and glass (+4.9 per cent) and fuel (+3.3 per cent).

The sectors with the largest monthly decreases were furniture & lighting (-3.7 per cent), books, newspapers and stationery (-2.5 per cent) and bars (-2.3 per cent).