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Financial News: Turkey Retail Sales Recover In September

Turkey Retail Sales Recover In September

11/15/2019 - 03:40:00 (RTTNews)

(RTTNews) - Turkey's retail sales rose for the first time in thirteen months in September, data from the Turkish Statistical Institute showed on Friday.

Another report showed that the unemployment rate rose marginally in August.

Retail sales increased a calendar adjusted 2.7 percent year-on-year in September, after a 4.2 percent fall in August.

The latest increase was the fastest since last July, when sales rose 3.3 percent.

Sales of non-food grew 4.7 percent annually in September and those of automotive fuels rose 4.0 percent. Meanwhile, sales of food, drinks and tobacco declined by 2.0 percent.

On a monthly basis, retail sales rose a calendar and seasonally adjusted 0.6 percent in September, following a 0.4 percent increase in the preceding month.

The jobless rate fell to a seasonally adjusted 14.2 percent in August from 14.3 percent in July, the statistical office reported. In the same period last year, the rate was 11.3 percent.

On an unadjusted basis, the unemployment rate increased to 14.0 percent in August from 11.1 percent in the same month last year.

The youth unemployment rate increased notably to 27.4 percent in August from 20.8 percent last year.

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