In addition to the upward trend in tourism figures referred to by Senator Terry Brennan, I recognise and welcome the fact that retail sales posted a strong finish in 2013, with the volume of core sales up 1.4% month on month and 3% for the year as a whole. That included the motor trade, about which people worry and which, thankfully, was also relatively robust.

The good point is that there was a strong finish, with ten of 12 core segments recording growth. The data published today provide a further indication that the recovery in domestic demand is gaining traction. Taken together with the continuing momentum in employment growth, it augurs well for the future. We should not forget the positive trends throughout the economy.