Production, Sales, Work Started and Orders: Retail Trade Volume: Economic Activity: Retail Trade, Except of Motor Vehicles and Motorcycles for Ireland
IRLSARTMISMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
130.60
Year-over-Year Change
2.75%
Date Range
1/1/1968 - 1/1/2024
Summary
This economic trend measures the monthly volume of retail trade in Ireland, excluding motor vehicles and motorcycles. It provides important insights into consumer demand and economic activity.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Retail Trade Volume index tracks changes in the total value of retail sales, adjusting for inflation and seasonal variations. It is a key indicator of the health and direction of the Irish economy, as consumer spending drives a significant portion of economic growth.
Methodology
The data is collected through surveys of retail businesses and calculated as an index based on the previous year's average.
Historical Context
Retail trade volume is closely monitored by policymakers and analysts to inform economic and monetary policy decisions.
Key Facts
- Ireland's retail trade volume accounts for over 50% of GDP.
- Retail trade data is released monthly by the Central Statistics Office of Ireland.
- Retail sales are a leading indicator of overall economic performance.
FAQs
Q: What does this economic trend measure?
A: This trend measures the monthly volume of retail sales in Ireland, excluding motor vehicles and motorcycles. It provides a comprehensive indicator of consumer demand and economic activity.
Q: Why is this trend relevant for users or analysts?
A: Retail trade volume is a crucial economic indicator, as consumer spending accounts for a large portion of GDP. This data helps analysts and policymakers assess the health and direction of the Irish economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail businesses and calculated as an index based on the previous year's average.
Q: How is this trend used in economic policy?
A: Retail trade volume is closely monitored by policymakers and analysts to inform economic and monetary policy decisions, as it provides insights into consumer demand and overall economic activity.
Q: Are there update delays or limitations?
A: The retail trade volume data is released monthly by the Central Statistics Office of Ireland, with a typical delay of 4-6 weeks.
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Citation
U.S. Federal Reserve, Production, Sales, Work Started and Orders: Retail Trade Volume: Economic Activity: Retail Trade, Except of Motor Vehicles and Motorcycles for Ireland (IRLSARTMISMEI), retrieved from FRED.