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Financial News: Turkey Retail Sales Growth Slowest In 15 Months

Turkey Retail Sales Growth Slowest In 15 Months

02/13/2024 - 05:12:00 (RTTNews)

(RTTNews) - Turkey's retail sales growth eased further in December to the lowest level in more than one year, data from Turkstat showed on Tuesday.

Retail sales climbed 11.4 percent annually in December, slower than the 12.6 percent surge in the previous month. Sales have been rising since June 2020.

Further, the latest increase was the weakest since September 2022, when sales had risen 10.8 percent.

Sales of food, drinks, and tobacco grew 8.7 percent annually in December, though slower than the 10.3 percent gain a month ago. Meanwhile, the annual sales growth in non-food goods, except automotive fuels, grew markedly by 16.9 percent.

Data showed that retail sales via mail orders and the internet alone showed a sharp increase of 37.0 percent.

On a monthly basis, retail sales growth was 4.3 percent in December versus a 3.7 percent increase in the preceding month.

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