Retail sales growth continues to lose momentum

ANKARA

The rate of annual growth of retail sales declined for a second month in a row, according to the numbers of the Turkish Statistical Institute (TÜİK).

Retail sales increased 10.2 percent year-on-year in April, easing from 19.8 percent in the previous month and 25.7 percent in February.

The monthly decline in sales was steeper, with the seasonally and calendar adjusted sales index falling 1.8 percent after dropping 0.2 percent in March.

Retail food sales increased 10 percent in April from a year ago, while non-food sales grew 13.3 percent.

The annual increase in computer and telecommunication equipment slowed from 44.1 percent to 22.3 percent.

Retail textile sales inched up 1.5 percent year-on-year but declined 1.5 percent monthly.

Mail orders and online orders, which soared 41.5 percent annually in March, rose by 21.1 percent from a year ago but contracted 1.1 percent from the previous month.

Meanwhile, the trade sales index was up 2.5 percent in April, slowing from the 11.1 percent annual increase in March.

The index plunged 4.6 percent month-on-month after rising 3.1 percent monthly in March.

Separate data from TÜİK showed that the combined turnover of the industry, construction, trade and services sectors increased by 71.9 percent in April from a year ago, comparing unfavorably with the 84.7 percent rise in the previous month.

On a monthly basis, the increase in turnover was only 0.3 percent.

In industry, turnover rose 62.4 percent compared with April last year, while the year-on-year increase in turnover of construction companies was 78.4 percent.

In the trade and services sectors, turnover rose by 72.7 percent and 88.1 percent, respectively.