may retail sales figures show recession biting.

[freedomlover]

The May 2007 retail sales figures were published by the CSO a few minutes ago (link below). They show the VOLUME of retail sales UP 9.9 per cent compared with May 2006. If the motor trade is excluded, the increase is 9.1 per cent. Yes sirree, it looks like the dommongers were right after all and the recession is really starting to bite.

http://www.cso.ie/releasespublications/ ... nt/rsi.pdf

[gosimeon]

Whilst it could be argued people are spending oney they don't have through credit cards, this does show people are still very confident in the economy.

[kerrynorth]

Whats this doing in the Seanad Forum? On the core point retail sales up in the same month as half the SSIA's mature - shocker! All the further to fall in May 2008.

[rockofcashel]

I was going to suggest the old SSIA bonus too

[michael1965]

.. and since May, retail has been doing well (anecdotally), due to the bad weather.

You can criticise Charlie McCreevy for many things, but the SSIA scheme has to be one of the most fortuitous and best timed, political acts in history. Just when the economy started to wobble, all this loot gets released into the economy. If the property market stabilises, and the economy gets over the construction slow-down, I think he can claim some credit for it.

[rockofcashel]

and if it doesn't ?

[michael1965]

and if it doesn't ?

.. he won't be claiming any credit then, but it wouldn't change the point about the value of the SSIA scheme, as a measure to take liquidity out of the economy when it was booming, and putting it back in, during a down turn.

[MacO'velli]

.. and since May, retail has been doing well (anecdotally), due to the bad weather.

You can criticise Charlie McCreevy for many things, but the SSIA scheme has to be one of the most fortuitous and best timed, political acts in history. Just when the economy started to wobble, all this loot gets released into the economy. If the property market stabilises, and the economy gets over the construction slow-down, I think he can claim some credit for it.

Actually, and I know this because indirectly its my business to know, a lot of SSIA cash is being further invested.If you look at the amount of financial products available and their take up you will see this also.
A lot of people who had the cop on to save this money over the last 5 years don't just change over night in to wasters who spend it on a dozen or so 99inch widescreens.

[freedomlover]

Whats this doing in the Seanad Forum? On the core point retail sales up in the same month as half the SSIA's mature - shocker! All the further to fall in May 2008.

Sorry about that. By all means move it to a different forum if you know how. I don't.

[David Cochrane]

WHY was this posted in the Seanad Forum?

Guys, PLEASE pay attention to where you're posting stuff on the site.