11.10.202309:34:00UTC+00Turkey Retail Sales Growth Eases To 9-Month Low

Turkey's retail sales growth eased sharply in August to the lowest level in nine months, data from Turkstat showed on Wednesday.

Retail sales advanced 17.2 percent annually in August, much slower than the 31.6 percent surge in the previous month. Sales have been rising since June 2020.

Further, the late increase was the weakest since November last year, when sales had risen 11.7 percent.

Sales of food, drinks, and tobacco grew 15.3 percent annually in August, though weaker than the 19.6 percent gain in the prior month.

Similarly, sales of non-food items, except automotive fuel, showed a 24.2 percent annual growth in August versus a 42.3 percent jump in July.

On a monthly basis, retail sales dropped 4.7 percent in August, reversing a 3.0 percent gain in the preceding month.