RETAIL sales in December were up 5.4 per cent by value from a year earlier, according to provisional figures released by the Central Statistics Office. However, sales fell by 0.9 per cent when compared to November on a seasonally adjusted basis, and thus do not appear to provide any evidence of a major Christmas spending spree.

On a three month basis, which gives a more reliable indication of recent trends, the value of sales in October to December 1995 is estimated to have been 2 per cent higher than the period from July to September, when adjusted seasonally. The period also recorded growth of 6 per cent when compared to the same period in 1994.