Retail sales rise at slowest pace in two years
Retail sales volume increased by 5.4 percent year-on-year in July. Thus, the slowest increase in retail sales since July 2022 was recorded.
The tight monetary policy stance continues to put downward pressure on consumption.
Turkish Statistical Institute (TurkStat) data showed that the momentum in retail sales decelerated.
Accordingly, retail sales volume increased by 5.4 percent annually in July. Thus, the slowest annual increase in retail sales volume since July 2022 was observed.
On a monthly basis, the loss of momentum in retail sales was also noteworthy. According to the data, retail sales volume in July
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