Financial News: Turkey Retail Sales Growth Eases To 10-Month Low

Turkey Retail Sales Growth Eases To 10-Month Low

11/13/2023 - 04:40:00 (RTTNews)

(RTTNews) - Turkey's retail sales growth eased further in September to the lowest level in ten months, data from Turkstat showed on Monday.

Retail sales climbed 13.8 percent annually in September, slower than the 17.3 percent surge in the previous month. Sales have been rising since June 2020.

Further, the latest increase was the weakest since November last year, when sales had risen 11.7 percent.

Sales of food, drinks, and tobacco grew 13.8 percent annually in September, though weaker than the 15.3 percent rise in August.

Similarly, sales of non-food items, except automotive fuel, showed 18.6 percent annual growth in September versus a 24.2 percent gain in the prior month.

Data showed that retail sales via mail orders and the internet alone showed a sharp growth of 41.2 percent.

On a monthly basis, retail sales dropped 0.7 percent in September, after a 4.7 percent decline in the preceding month. This was the second successive monthly fall.

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