Retail Ireland Monitor August 2023
The wider Irish economy continues to perform well despite interest rate increases and high inflation. This is broadly reflected in retail trends, with sales outperforming the wider EU index. Over recent months the retail volume and value trends have converged again, as inflationary pressures have eased. This is reflected in a steady if slow improvement in consumer sentiment. With Budget 2023 on the horizon, business costs have come back into focus. Significant supports will be needed from Government to ensure that labour market reforms, such as the introduction of a Living Wage, do not undermine the viability of many retail businesses.
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