Retail sales volume up 6.8% in September

[freedomlover]

The boom just keeps going on and on.

CSO figures just out show the volume of retail sales up 6.8% in September 2007 compared with September 2006. In the third quarter of 2007 they were up 6.5% compared with the third quarter of 2006. And in the first nine months of 2007 they were up 7.1% compared with the first nine months of 2006. Previously the doommongers told us that retail sales would collapse after the end of the SSIA in May. Wrong again!

Earlier this month CSO figures showed manufacturing output up 9.0% in the third quarter of 2007 compared with the third quarter of 2006. So, combining this figure with the retail sales increase of 6.5% in the third quarter means we can confidently predict that year-on-year GDP growth in the third quarter of 2007 will be very similar to that of the first half of 2007 when it showed a 6.7% increase. Watch out in the next few weeks for all the economists to be sharply revising up their forecasts for GDP growth in 2007. All those economists and posters on P.ie who predicted earlier in the year that we'd be in recession by the autumn and that year-on-year growth in the second half of 2007 would fall to 1% now look utterly ridiculous. It wasn't a year of two halves after all.

[Sligoboy]

The boom just keeps going on and on.

CSO figures just out show the volume of retail sales up 6.8% in September 2007 compared with September 2006. In the third quarter of 2007 they were up 6.5% compared with the third quarter of 2006. And in the first nine months of 2007 they were up 7.1% compared with the first nine months of 2006. Previously the doommongers told us that retail sales would collapse after the end of the SSIA in May. Wrong again!

Earlier this month CSO figures showed manufacturing output up 9.0% in the third quarter of 2007 compared with the third quarter of 2006. So, combining this figure with the retail sales increase of 6.5% in the third quarter means we can confidently predict that year-on-year GDP growth in the third quarter of 2007 will be very similar to that of the first half of 2007 when it showed a 6.7% increase. Watch out in the next few weeks for all the economists to be sharply revising up their forecasts for GDP growth in 2007. All those economists and posters on P.ie who predicted earlier in the year that we'd be in recession by the autumn and that year-on-year growth in the second half of 2007 would fall to 1% now look utterly ridiculous. It wasn't a year of two halves after all.

You need serious professional help. You should stop double-dosing on the prozac mate

[rockofcashel]

Everything is fine.. just fine.. no problems in the Irish economy.. move along now

[CookieMonster]

Any figures for credit card spending?

[irishpeoplearewhingers]

I am glad the retail numbers are up, but even more glad that jobs and industrial production followed suit. Still, this should not be taken as a sign that we will inevitably do well at all times- we must refocus and enhance our competitiveness through wage moderation, infrastructural upgrading, human capital upgrading and well targeted tax-cuts.

[Tipp North]

I am glad the retail numbers are up, but even more glad that jobs and industrial production followed suit. Still, this should not be taken as a sign that we will inevitably do well at all times- we must refocus and enhance our competitiveness through wage moderation, infrastructural upgrading, human capital upgrading and well targeted tax-cuts.

Just like Bertie and Co. Nice leading by example there Boss...........

[bluemajor]

exactly cookiemonster, talking to a business owner who said she has never seen as much of her sales being paid for by credit card in the last two months, the increase in retail sales are been pushed by using credit and also the huge increase in immigrants. It was hard to find an irish accent of henry street on sunday last

[Dillinger]

Surely all the spending is with borrowed money ?. Just judging from the people I know, they have alll been hammering their cards and releasing equity over the last couple of years. Maybe its just my freinds who are blaze with their borrowing ?.

[kerrynorth]

The boom just keeps going on and on.

CSO figures just out show the volume of retail sales up 6.8% in September 2007 compared with September 2006. In the third quarter of 2007 they were up 6.5% compared with the third quarter of 2006. And in the first nine months of 2007 they were up 7.1% compared with the first nine months of 2006. Previously the doommongers told us that retail sales would collapse after the end of the SSIA in May. Wrong again!

Earlier this month CSO figures showed manufacturing output up 9.0% in the third quarter of 2007 compared with the third quarter of 2006. So, combining this figure with the retail sales increase of 6.5% in the third quarter means we can confidently predict that year-on-year GDP growth in the third quarter of 2007 will be very similar to that of the first half of 2007 when it showed a 6.7% increase. Watch out in the next few weeks for all the economists to be sharply revising up their forecasts for GDP growth in 2007. All those economists and posters on P.ie who predicted earlier in the year that we'd be in recession by the autumn and that year-on-year growth in the second half of 2007 would fall to 1% now look utterly ridiculous. It wasn't a year of two halves after all.

Whats the month on month figure? If its not 1pc+ then the retail sector went into recession in Q3.

[irishpeoplearewhingers]

I am glad the retail numbers are up, but even more glad that jobs and industrial production followed suit. Still, this should not be taken as a sign that we will inevitably do well at all times- we must refocus and enhance our competitiveness through wage moderation, infrastructural upgrading, human capital upgrading and well targeted tax-cuts.

Just like Bertie and Co. Nice leading by example there Boss...........

I don't get it....if Bertie said that smoking was bad for you and then lit up, would that invalidate the fact that smoking was bad for you? And come to think of it.....who mentioned Bertie to begin with......? Wage moderation is imperative....and the same would apply if Kenny were Taoiseach....