Financial News: Turkey Retail Sales Growth Slowest In 22 Months

Turkey Retail Sales Growth Slowest In 22 Months

07/11/2024 - 05:51:00 (RTTNews)

(RTTNews) - Turkish retail sales grew at the slowest pace in nearly two years in May, data from the Turkish Statistical Institute showed on Thursday.

Retail sales logged an annual growth of 5.8 percent in May, well below the 10.2 percent surge in April. This was the weakest growth since July 2022, when sales had risen 5.1 percent.

Food, drink, and tobacco sales climbed 8.1 percent annually, though slower than the 10.3 percent gain a month ago. Similarly, the annual growth in non-food sales, except automotive fuel, eased to 8.3 percent in May from 13.2 percent in April.

On a monthly basis, retail sales dropped 0.2 percent, after a 0.9 percent decrease in April. Sales were down for the third consecutive month.

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