Retail Sales Rise by O.5% in November 2024
According to the CSO, the volume of Retail Sales rose by 0.5% in November 2024 when compared with October 2024 on a seasonally adjusted basis.
Sectors showing monthly volume increases were Other Retail Sales (+3.3%), Non-Specialised Stores (incl. Supermarkets) (+2.5%), Bars (+1.4%), Electrical Goods (+1.3%), and Motor Trades (+0.1%).
Sectors showing the highest annual volume growth in November 2024 were Department Stores (+10.0%), Other Retail Sales (+7.5%), Furniture & Lighting (+5.6%), and Food, Beverages & Tobacco (Specialised Stores) (+4.6%).
Robert Purdue, Head of Dealing (Ireland) at global financial services firm Ebury, said: “Today’s retail sales data shows an encouraging 0.5% uptick in November, likely driven by early Christmas shopping and Black Friday discounts. This seasonal boost will be welcomed by retailers as they look to capitalise on festive demand.
“However, the recent uptick in Eurozone inflation could derail the ECB’s anticipated course of aggressive interest rate reductions, creating fresh uncertainty for consumer spending in the months ahead.
“With potential US tariff threats looming, retailers must stay on their toes—ensuring ready access to financing, hedging against FX volatility, and preparing to navigate potential disruptions. While November’s figures offer some short-term relief, a proactive approach will be essential to weather the potential economic and supply chain challenges of 2025.”
