Financial News: Turkey Retail Sales Growth Strongest In 7 Months

Turkey Retail Sales Growth Strongest In 7 Months

04/16/2024 - 03:46:00 (RTTNews)

(RTTNews) - Turkey's retail sales expanded at the fastest pace in seven months in February, data from Turkstat showed on Tuesday.

Retail sales surged 25.1 percent annually in February, much faster than the 13.7 percent increase in the previous month. Sales have been rising since June 2020.

Further, the latest increase was the quickest since July 2023, when sales had risen 31.9 percent.

Sales of non-food products, except automotive fuels, grew 36.5 percent annually in February, compared to 19.7 percent a month ago.

Sales of food, drinks, and tobacco rose 13.0 percent, and those of computers, books, and telecommunications equipment jumped by 56.1 percent.

Data showed that retail sales via mail orders and the internet alone showed a sharp increase of 59.0 percent.

On a monthly basis, retail sales growth was 3.5 percent in February versus a 2.5 percent increase in the preceding month.

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