FX.co ★ Turkish Retail Sales Growth Slowest Since Mid 2022

Turkish retail sales have recorded their slowest growth since 2022, according to data released by the Turkish Statistical Institute on Tuesday.

In April, retail sales experienced an annual growth of 10.2%, a decrease from the 19.8% increase observed in March. This marks the weakest growth since July 2022.

Sales of food, drinks, and tobacco increased by 10.1%, while non-food sales saw an annual rise of 13.3%. In contrast, automobile sales fell by 3.7%.

On a month-to-month basis, retail sales declined by 1.8%, a larger drop compared to the 0.2% decrease in March, marking the second consecutive month of decline.