Retail Sales Volume Down 20.9%

The volume of retail sales (excluding price effects) decreased by 20.9% in February 2009 compared to February last year according to new figures released by the Central Statistics Office. There was a monthly increase of 5.7%.

The large year on year retail sales decrease in February 2009 is primarily due to the large decrease in the motor trades sector. In February 2009 motor trades decreased 53.2% on the same period last year. Usually in February motor trades account for over one third of retail sales.

If Motor Trades were excluded the volume of retail sales decreased by 6.9% in February 2009 compared to February 2008 and the monthly change was an increase of 1.3%.