Spending keeps pace with economic boom

By Andrew Bushe

DUBLIN — As the economic boom continues, people have gone on a spending spree, according to figures from the Central Statistics Office, which show that retail sales have soared by 8.7 percent in May, compared with may 1998.

In the last year the value of sales of cars has soared 14 percent, drinks sales are up 10.2 percent and spending in pharmacies is up 24.5 percent.

People have spend 8.5 per cent more on clothes, and footwear sales are up 14.3 percent.

The property boom is also fueling the spending splurge. Furniture and other home furnishings sales are up 12.9 percent, electrical goods are up 5.9 percent and hardware is up 13.2 percent.

The only categories showing a drop is 6.1 percent for fresh meat, indicating a continuing turning away from red-meat consumption, and a drop of 1.5 percent in tobacco sales.