27/7/2012: June 2012 Retail Sales for Ireland - Massive Disappointment

This is a second post on irish retail sales for June 2012. Digging through the numbers, the results released today by the CSO are just short of horrific.

Look at the following two charts:

So Q1 and Q2 2012 have witnessed some of the deepest falls in value and volume since Q1 2010. 

Monthly changes for June were equally bad:

To sum up:

• Value of sales is now at the lowest point since January 2010, m/m decline is the sharpest in 5 months and y/y decline is the steepest since January 2010.
• Volume of sales is at the lowest point since January 2010, and y/y decline is the steepest since December 2009.
• Ex-motor sales, value of sales index is now at the lowest point on record, m/m decline is the sharpest on record.
• Ex-motor sales, volume of sales are at the lowest point on record, m/m decline is sharpest in 5 months.

Not good!