Davy Research

Irish economy

Black Friday boosts November retail sales

DAVY VIEW

The 2.6% rise in retail sales in November was almost certainly driven by Black Friday. In particular, sales of durable goods surged on the month at the expense of deeper discounting by retailers. The question remains whether spending has merely been brought forward from the traditional December season to November. Industry surveys suggest that December spending was disappointing for Irish retailers, under pressure from competition from online UK retailers. However, Irish consumer spending will be higher once again in Q4 as a recovering labour market and wage growth drive demand.

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