A group representing the retail industry says sales fell at a faster rate in the third quarter of this year.
Retail Excellence Ireland said sales levels fell by an average of 6% during the third quarter compared with the same period last year. This followed falls of 3% in the first quarter and just under 6% in the second quarter. REI said the situation worsened as the quarter went on, with September sales dropping by almost 7% from the same month last year.
REI said electrical goods, furniture and ladies' fashion were the worst performing sectors in the three months, falling at annual rates of 8.5%, 8% and 7.5% respectively.
For the second consecutive quarter, all sectors, from grocery to hardware to jewellery, recorded year-on-year sales falls. REI said that even in the best- performing sector, grocery, sales were down 3.5%.
REI chief executive officer, David Fitzsimons, described Irish consumers as being "frozen with fear", resulting in increasing bank deposits and reduced spending.
"We hope that the Government is more aware of restoring domestic demand when finalising Budget 2012," he said.
