Retail sales slowed sharply in 2002, according to figures released by the Central Statistics Office this morning.
The figures show the value of retail sales grew by only 4 per cent in 2002, compared to 5.9 per cent in 2001 and 16.3 per cent in 2002.
Meanwhile, growth in the volume of sales was 0.7 per cent in 2002, compared to growth levels of 3.1per cent in 2001 and 11.9 per cent the previous year.
The figures include provisional figures for December 2002, and show a 3 per cent increase in the value of retail sales for the month. Excluding motor trades, the year-on-year increase was 2.8 per cent.
The volume of sales for December rose just 0.7per cent, down from 3.1 per cent the previous year.
For the three months to the end of 2002, volume figures show a 0.3 per cent increaseon the previous quarter.