2024.02.1310:12:00UTC+00Turkey Retail Sales Growth Slowest In 15 Months

The growth of Turkey's retail sales decelerated in December, achieving the smallest increase in over a year, based on the data released by Turkstat on Tuesday.

Annual retail sales in December rose by 11.4 percent, demonstrating a slower pace compared to the 12.6 percent spike in the previous month. Sales have been on an upwards trajectory since June 2020.

The recent incline is the most minimal since September 2022, when sales went up by 10.8 percent.

In the sales category of food, drink, and tobacco, the December annual growth rate was 8.7 percent, marking a fall from the 10.3 percent increment seen in the preceding month. On the contrary, the annual sales growth of non-food items, excluding automotive fuels, exhibited a significant increase of 16.9 percent.

The data revealed a substantial uptrend of 37.0 percent in retail sales conducted through mail orders and the internet.

In terms of monthly modifications, retail sales growth in December was 4.3 percent, surpassing the 3.7 percent boost observed during the prior month.