Irish consumer spending rose in January as extended winter sales buoyed retail sales, according to figures released today.
The January retail sales data show the volume of retail sales increased by 0.3 per cent in January 2004 compared to January 2003. There was a monthly decrease of 1.5 per cent.
If motor sales are excluded, the annual increase was 2.4 per cent and there was a monthly decrease of 6.7 per cent, showing the new car market is still sluggish.
A breakdown of the figures show that lower prices in the increasingly competitive clothes sector are drawing shoppers to boutiques and shoe shops. Sales of footwear are up 12.1 per cent on January last year, and clothes sales have risen by 7.4 per cent on the year.
The sales figures, which are measured in volume to take into account of price changes, show the pub trade is experiencing a drop in sales. Bar sales have fallen 5.3 per cent over the year, and sales of food, alcohol and tobacco - which include off licence sales - are down 4.3 per cent on Januray 2003.