FX.co ★ Turkey's Retail Sales Growth Slows in July, Down to 5.4% Year-Over-Year

In a fresh update released on September 11, 2024, Turkey's statistical authority reported a significant slowdown in retail sales growth for the month of July. The sales increased by 5.4% year-over-year, a notable decline from the previous month's 8.6% growth registered in June.

This latest data points to a tapering in consumer spending compared to the same period last year. While still positive, the July figure underscores a loss of momentum within the Turkish retail sector, raising questions about potential underlying economic challenges.

Analysts will be paying close attention to forthcoming data to understand whether this downward trend is an anomaly or indicative of a broader shift in the country's economic landscape.