Monday, May 10, 2010

Is this the first signs of green shoots?

Irish consumer spending rose in March and retail sales volume increased, according to the latest Central Statistic Office (CSO) figures.The volume of retail sales (i.e. excluding price effects) increased by 3.6% in March 2010 compared to March 2009 and there was a monthly increase of 2.6%. If Motor Trades are excluded the volume of retail sales decreased by 1.2% in March 2010 compared to March 2009 and the monthly change was +0.6%. A majority of sectors showed year on year volume increases with the most significant being: 1) Motor Trades up 21.9% 2) Non-specialised stores up 0.1% 3) Other Retail Sales up 8.4% and unemployment falling is this a signal that the Irish economy is stablising.

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