FX.co ★ Turkey Retail Sales Growth Weakest In 2 Years

Turkey's retail sales experienced the slowest growth in two years this July, according to data released by the Turkish Statistical Institute on Wednesday.

Retail trade volumes saw a 5.4% increase year-on-year in July, down from an 8.9% rise in June. This marks the weakest growth since July 2022, when sales grew by 5.1%.

Month-on-month, retail sales saw a 0.8% increase, decelerating from the 1.7% rise recorded in the previous month. Despite the slowdown, this still represented the second consecutive monthly increase.

In contrast, wholesale trade sales fell by 5.6% compared to a year ago and decreased by 1% from the prior month.