Figures released by the Central Statistics Office have shown that retail within Ireland has continued to fall. February saw sales drop by 0.3%, it was preceded by a drop of 1.1% in January.
If Motor Trades are excluded, the volume of retail sales decreased by 1.0% in February 2012 when compared with January 2012, while there was an annual decrease of 2.1%.
The biggest falls were in Bars (-3.3%), Books and Newspapers (-3.2%) and Motor Trades (-2.9%).
However there was a big rise for department stores (+8.5), followed by electrical goods (+6.3%).
The value of retail sales decreased by 0.1% in February 2012 when compared with January 2012 and there was an annual change of -1.8%.
The figures have emphasised a two speed economy is alive and well in Ireland. With people saving more and more because they don’t know what more they will have taken from them in charges and taxes over the next number of years, these figures will only get worse. Austerity is causing more uncertainty within the consumer. Why will they spend when they know next year it will only get worse for them?