Blog Archives
Glimmers of Light
Banks
Irish bank deposits up 0.7% in August
In July, deposits were falling at an annual rate of 0.8% but last month deposits increased by 0.7% compared to August 2011.
Private sector deposits from outside Ireland grew by €712m during the month.
Even though banks appear to be slowly, repairing their balance sheets this seems to be happening at the expense of any new lending.
Retail Sales
New figures from the Central Statistics Office show that the volume of retail sales rose for the second month in a row in August.
The volume of retail sales rose by 0.4% in August compared to July, while there was an annual decrease of 0.6%.
The CSO said what when car sales are excluded, the volume of retail sales rose by 0.1% in August from July, while there was an annual increase of 0.4%.
Breaking down the figures, they show that sales in bars rose by 3.2% in August, while sales of hardware, paints, and glass increased by 2.1%.
The largest decreases were seen in sales of furniture and lighting (3.5%), clothing and footwear (2.3%) and fuel (2.2%).
