Retail sales growth slows, data show

ANKARA

The volume of retail sales grew 11.4 percent in December compared to the same month of last year, slowing from the 12.6 percent year-on-year increase recorded in November, according to the data from the Turkish Statistical Institute (TÜİK).

Sales of food, drinks, and tobacco rose 8.7 percent, while non-food products climbed 16.9 percent. Fuel sales were down 5.1 percent compared to December 2022.

Electronic goods and furniture sales exhibited an annual increase of 7.6 percent, while the year-on-year increase in textile and apparel was 5.3 percent.

Orders by mail and online sales leaped 37 percent.

The pace of monthly growth in retail sales accelerated, the data showed.

The volume of retail sales increased 1.7 percent in December, up from the 0.4 percent rise in the previous month.

Turnover in the retail sector soared 80 percent in the month from a year earlier.

Separate data from TÜİK also showed that the combined turnover of the industry, construction, trade and services sectors rose by 69 percent year-on-year in December.

In industry, the increase was 59.4 percent, while the construction sector saw an 85 percent rise in turnover in the final month of last year.

In the trade and services sectors, turnover increased by 72.4 percent and 66.1 percent, respectively.

The combined turnover of those four sectors climbed 6.6 percent in December from November, according to TÜİK data.