Financial News: Turkey Retail Sales Growth Improves In June

Turkey Retail Sales Growth Improves In June

08/12/2024 - 06:23:00 (RTTNews)

(RTTNews) - Turkish retail sales growth accelerated for the first time in four months in June, data from the Turkish Statistical Institute showed on Monday.

Retail sales logged an annual growth of 8.6 percent in June, faster than the previous month's 22-month low of 6.2 percent.

The annual growth in non-food sales, except automotive fuel, quickened to 11.3 percent in June from 8.8 percent in May.

Meanwhile, food, drink, and tobacco sales climbed at a slightly slower rate of 7.7 percent annually, after an 8.0 percent gain a month ago.

On a monthly basis, retail sales rose 1.7 percent in June, reversing a 0.2 percent decline in May.

Separate official data showed that the seasonally adjusted jobless rate increased to an 11-month high of 9.2 percent in June from 8.5 percent in the prior month. The labor participation rate stood at 54.4 percent versus 54.6 percent in May.

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