2010.07.0808:43:00UTC+00Irish May Retail Sales Growth Slows

Irish retail sales growth eased in May from the preceding month, the Central Statistics Office said on Thursday.

Retail sales volume rose 3.5% year-on-year in May, slower than a 6.5% growth in the previous month. However, sales increased for the fourth successive month. A year ago, retail sales slipped 14%.

Sales in motor trade rose 21.9% and non specialized stores grew 3.1%. Sales for clothing, footwear and textiles climbed 13.2%.

On a monthly basis, retail sales growth slowed to 0.1% in May from 1.8% in the previous month. Retail sales growth has eased since February, when sales jumped 14.7%.

Excluding motor trades, retail sales rose 0.1% on an annual basis in May, compared to a 0.3% rise in the previous month. Sales increased for the second consecutive month. Sales grew 0.1% compared to the preceding month.

Meanwhile, overall retail sales value dropped 0.1% annually in May, in contrast to a 2.2% increase in April. Month-on-month, the value of retail sales grew 0.1%, following a 1.3% rise in April. It was the fourth monthly increase in a row. Retail sales value, excluding motor trades fell 3.4% annually and was down 0.4% compared to the prior month.

Irish economy exited from its worst recession in the first quarter. The gross domestic product increased 2.7% on a sequential basis, rebounding from 2.7% decline in the fourth quarter. The latest inflation data showed that nation's consumer prices decreased at a slower pace in June. The consumer price index dropped 0.9% in June from the previous year, following a 1.1% fall in May.

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