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And our retail numbers go from bad to worse.

Radix

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Aug 31, 2010
Messages
9,892
Does anyone remember the sustained commentary around christmas that this was tha best christmas in 5 years.Confidence was returning and people were spending again.

It was all lies.

We will not hit our growth forecasts this year, bailout 2 is now a certainty.

Indeed the "sustained commentary" at Christmas was very much at odds with the truth on the ground.

Your sport and country young man?

Eh, spinning sir, spinning for Ireland!
 


emulator

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Joined
Oct 20, 2010
Messages
10,206
I'm not surprised one bit.

The attitude in the media is that if there were a lot people on Grafton Street in Dublin, shopping in the whole country must be good.

The situation is that many, many people are struggling to pay for food, heat, and other basics. Other people, usually older people with no mortgages, are to scared to spend.

The cumulative effect is a killer for the domestic economy.

While there is a strong recovery in the export economy, the domestic economy is not going to recover for a long time.


Hello !

Have you a link for this.... or are you just going to try to slip it in there ?

So it's Government policy to completely kill the domestic economy ? Strange one that !
 

Spanner Island

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Joined
Feb 22, 2011
Messages
23,974
This will come to as a shock to our "green jersey" wearing media who spent most of December telling us that people were shopping like it was 2007. How can people shop like the good oul days when there's a lot less money these days?
Credit cards, pay day loan companies, loan sharks, the 'ah sure feck it it's Christmas' attitude, denial...

The list is endless as to how people justify spending what they don't have to themselves...

Plus there are people who didn't buy property who have good jobs and who really aren't doing too badly at all...

It's the people in negative equity in the middle of nowhere who will be sacrificed as a lost generation...
 

Carson

Active member
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May 29, 2011
Messages
211
Are the spinners starting to run out of spin?
Well you could as easily argue that this thread is a piece of negative spin.

The most important indicator of the strength of the domestic economy in today's release, in my opinion, is the year on year change in consumer spending excluding motor sales and adjusted for inflation. That figure was up 1.1% in December. So not brilliant by any means, but also not doom and gloom. That suggests to me that the domestic economy is growing at a very modest pace, which is in line with other recent indicators.
 

thelimit

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Joined
Jan 17, 2012
Messages
2,347
I'm restoring an old bike at the moment and it needs a new part. About 30 quid from the UK. 6 months ago I'd have just bought it, but I've been agonising over this purchase fopr weeks now. €30 represents some other more important purchases that I have to buy, like food and petrol. That part is just going to have to wait.
same as

been getting a few parts for a vintage bike this last year but its now on hold, presently not stuck for a few euro but i'm wary of the future thus only items like food/house and main vehicle repairs are whats getting spent on

think a lot of folk are holding what money they may have for emergency and the like and i cant blame em either
 

Mad as Fish

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Dec 6, 2012
Messages
24,185
same as

been getting a few parts for a vintage bike this last year but its now on hold, presently not stuck for a few euro but i'm wary of the future thus only items like food/house and main vehicle repairs are whats getting spent on

think a lot of folk are holding what money they may have for emergency and the like and i cant blame em either
Bit of a club forming here, that makes three of us.
 

DuineEile

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Aug 29, 2010
Messages
14,658
Correct.

There was a lot of talk throughout P.ie about how busy retail outlets appeared to be during December 2012.If there is a sliver of light it's "If Motor Trades are excluded, the volume of retail sales increased by 0.8% in December 2012 when compared with November 2012 and there was also an annual increase of 0.8%",
I noticed that. What I didn't notice was shoppers in shops.

I couldn't be arsed at the time (busy period) to comment, but I was pretty incredulous at the comments, because it didn't tally with what I thought I was seeing.


D
 

skiii

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Joined
Nov 27, 2010
Messages
3,871
I was really struck by how quiet everything was before Christmas and yet we were bombarded by tales of green shoot liveliness in the media. The best evidence is from your own eyes. Lately, I think things around my bank branch are at an all-time low.Last Friday, coming up to closing,the lodging machines had broken down,there was one teller only and she had a long and growing queue.There were no officials anywhere and no sense of urgency.I remember the place in better times-now they just want people|customers to go away.It's a kind of endgame.
 
F

fistikuffs

I noticed that. What I didn't notice was shoppers in shops.

I couldn't be arsed at the time (busy period) to comment, but I was pretty incredulous at the comments, because it didn't tally with what I thought I was seeing.


D
From what I could see it was a record year in retail for window shopping. They'll probably have to start charging for that soon.
 

Amnesiac

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Oct 27, 2011
Messages
1,025
Lots has been said about private debt forgiveness, the removing of upward-only rent reviews, etc. Nothing has been done. The banks are still sitting on losses, and the government appear to be too spooked to do anything about it. They seem content to let the domestic economy suffocate.
 

patfitzbally

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Joined
Dec 11, 2011
Messages
1,014
I was really struck by how quiet everything was before Christmas and yet we were bombarded by tales of green shoot liveliness in the media. The best evidence is from your own eyes. Lately, I think things around my bank branch are at an all-time low.Last Friday, coming up to closing,the lodging machines had broken down,there was one teller only and she had a long and growing queue.There were no officials anywhere and no sense of urgency.I remember the place in better times-now they just want people|customers to go away.It's a kind of endgame.
good point,as an oldie my measure of consumer confidence is the traditional small town pub and they are in a desperate situation.
 

SPN

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Feb 2, 2004
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http://www.cso.ie/en/media/csoie/releasespublications/documents/services/2012/rsi_dec2012.pdf?utm_source=twitterfeed&utm_medium=twitter

This is an absolute SHOCKER.

There were FOUR pre-Christmas weekends in December and the weather was much better than a year earlier and still retail numbers are going down. Our domestic economy has not been is this bad a shape in the last 25 years and there's absolutely nothing on the horizon to suggest things are going to change.
The real economy - the one that earns money - is fine. Exports continue to grow.

What is in trouble is the discretionary economy, because there is little to no new credit going into the economy to fund sales of faff.

If we want a sustainable economy in the future, then we should be focusing on developing new and innovative businesses in the real economy. That's how we earn the money to fund the lifestyles we want to live.

The discretionary economy is a distraction and a waste of time, energy and resources.
 

robut

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Apr 6, 2008
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8,729
Newstalk - Warning of retail job losses as sector sees small increase

SME says more jobs will go in the sector

Retailers saw a small Christmas boost to sales with a monthly increase of just 0.3% in terms of the value of sales once car sales are excluded.

Last month retailers said they had seen the best Christmas in years.

While these figures from the Central Statistics Office (CSO) do not contradict that, the increase is modest.

January has been a bleak month for retailers with HMV, Pamela Scott and Blacktie having varying degrees of difficulties.
Mixed bag ..
 

ruserious

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Jan 3, 2011
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29,090
This place is heading on the wrong track. The only light coming from the end of the tunnel is the oncoming train.
 

dizillusioned

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Jan 19, 2011
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Speak to anyone on the ground in stores and they will tell you what business was like over Christmas ... Terrible.. By that I mean staff... Till / sales people etc etc.. Pure BS in the part of government spinners and CSO and media... Sorry on phone so cannot type what I want to say in full
 

patfitzbally

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Dec 11, 2011
Messages
1,014
The real economy - the one that earns money - is fine. Exports continue to grow.

What is in trouble is the discretionary economy, because there is little to no new credit going into the economy to fund sales of faff.

If we want a sustainable economy in the future, then we should be focusing on developing new and innovative businesses in the real economy. That's how we earn the money to fund the lifestyles we want to live.

The discretionary economy is a distraction and a waste of time, energy and resources.
could you perhaps give some suggestion on "new and innovative businesses"for the benefit of any young entrepreneur whom hasn't emigrated.
 

im axeled

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Nov 24, 2010
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29,289
during the month of december my local indoor market had little traders and no customers on sundays, there was a little more of each on the saturday, the pub and the local market or car boot are the real indicators of the condition of the economy, both seem to be slowly drowning from what i hear, but then they have little in the way of tax collecting for the tax man.
 

bonkers

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Oct 4, 2006
Messages
24,148
The real economy - the one that earns money - is fine. Exports continue to grow.

What is in trouble is the discretionary economy, because there is little to no new credit going into the economy to fund sales of faff.

If we want a sustainable economy in the future, then we should be focusing on developing new and innovative businesses in the real economy. That's how we earn the money to fund the lifestyles we want to live.

The discretionary economy is a distraction and a waste of time, energy and resources.
I wonder how much of these exports is money that washes into Ireland and goes back out on the next tide with no gain for us.
 

stopdoingstuff

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Feb 26, 2011
Messages
22,378
Once car sales are excluded........primary surplus......core inflation........seasonally adjusted........long term expected value....
 


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