13.12.202307:21:00UTC+00Turkey Retail Sales Growth Slowest In 11 Months

Turkey's retail sales growth eased further in October to the lowest level in nearly a year, data from Turkstat showed on Wednesday.

Retail sales climbed 13.7 percent annually in October, slightly slower than the 14.2 percent surge in the previous month. Sales have been rising since June 2020.

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

Sales of food, drinks, and tobacco grew 13.8 percent annually in October versus a 14.1 percent gain a month ago. Meanwhile, the annual sales growth in non-food goods, except automotive fuels, improved somewhat to 18.9 percent from 18.8 percent.

Data showed that retail sales via mail orders and the internet alone showed a sharp increase of 34.8 percent.

On a monthly basis, retail sales recovered 2.0 percent in October, after a 0.6 percent decline in the preceding month.