New jobs and better wages help retail

RETAIL sales posted another strong month in September thanks to rising job numbers and accelerating wage growth, with the headline number up 1.5 per cent from August and 6.1 per cent from a year ago in volume terms according to the CSO.

Excluding the volatile car sector, socalled core retail sales posted a 2.8 per cent gain on the month and 6.3 per cent on the year the Central Statistics Office reported.

“As regards 2018, we think personal spending will post another positive in- crease as the unemployment rate continues to drop and disposable incomes rise,” said Merrion Capital Economist Alan McQuaid.

Mr McQuaid is forecasting that headline sales will rise by up to four per cent for the full year.