CSO records retail sales jump of 5% in March

Retail sales jumped by 5.3% in March, according to the latest figures from the Central Statistics Office.

Retail sales jumped by 5.3% in March, according to the latest figures from the Central Statistics Office.

Excluding motor trades, which are often volatile, retail sales in volume terms increased 4.7 per cent in the 12 months to March 2006 and a monthly decrease of 1.8 per cent.

The value of retail sales increased by 7.6% in March compared to March last year. A decrease of 0.8% was recorded in the month.

However, if Motor Trades are excluded, the annual increase was 6.1% and the monthly change was a decrease of 1.5%.

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The jump in retail sales points to consumers spending on their homes as property prices surge. The latest detailed figures available recored a jump of 7.7 per cent in the sales of furniture and lighting in the three months up to February 2006.