Pace of growth in retail sales slows

ANKARA

Retail sales at constant prices increased by 13.8 percent in September from a year ago, but the pace of growth slowed, according to the data from the Turkish Statistical Institute (TÜİK).

Retail sales increased by 32 percent and 17 percent year-on-year in July and August, respectively.

Food sales grew 13.8 percent, while the annual increase in non-food sales was 18.6 percent, TÜİK said on Nov. 13.

Computer and communication equipment sales recorded a 31 percent increase, but textile and apparel sales increased only 4.1 percent compared with September 2022.

Consumer electronics rose nearly 17 percent. Orders by mail and online sales leaped 41.2 percent year-on-year in September.

Retail sales declined 0.7 percent month-on-month, after falling 4.7 percent in August.

TUİK separately announced that the combined turnover in the industry, construction, trade and services sectors rose by 64.1 percent in September from a year ago, slowing from the 69.3 percent increase recorded in the previous month.

In industry, turnover rose more than 55 percent with manufacturing registering a 54.8 percent increase.

Turnover in the construction and trade grew by 91 percent and 68 percent, respectively, while in the services sector the year-on-year increase was 61.4 percent.

Turnover of the four sectors rose by 1.3 percent on a monthly basis, which was slower than the 2.4 percent month-on-month increase in August.