FX.co ★ Turkey Retail Sales Growth Improves In June

In June, Turkish retail sales experienced accelerated growth for the first time in four months, according to the latest data released by the Turkish Statistical Institute on Monday.

Retail sales in June demonstrated an annual growth rate of 8.6%, an improvement from the 22-month low of 6.2% recorded in the previous month.

The annual growth rate for non-food sales, excluding automotive fuel, increased to 11.3% in June, up from 8.8% in May.

Conversely, sales of food, drinks, and tobacco saw a modest annual increase of 7.7%, slightly down from an 8.0% rise in the prior month.

On a month-to-month basis, retail sales climbed by 1.7% in June, successfully reversing a 0.2% decline observed in May.

In related economic data, the seasonally adjusted unemployment rate rose to an 11-month high of 9.2% in June, up from 8.5% in the previous month. The labor participation rate was reported at 54.4%, a slight decrease from May's 54.6%.