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Financial News: Turkey Retail Sales Growth Weakest In 8 Months

Turkey Retail Sales Growth Weakest In 8 Months

08/17/2018 - 07:37:00 (RTTNews)

(RTTNews) - Turkey's retail sales grew at the slowest pace in eight months in June, the Turkish Statistical Institute reported Friday.

Retail sales climbed 4.3 percent year-on-year in June, slower than the 5.1 percent increase logged in May. This was the weakest growth since November 2017, when sales advanced 3.1 percent.

The slowdown was largely driven by a 5.2 percent drop in electronic goods and furniture sales and a 1.5 percent fall in automotive fuel. Meanwhile, food, drinks and tobacco sales advanced 6.7 percent.

Month-on-month, retail sales dropped 0.3 percent in June, following a 1 percent decrease in May. Sales declined for the second straight month.

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