Turkey Retail Sales Growth Highest In 18 Months

Turkey’s retail sales rose for the second straight month in October to the highest level in eighteen months, data from the Turkish Statistical Institute showed on Monday.

Retail sales grew a calendar adjusted 5.9 percent year-on-year in October, following a 3.1 percent rise in September.

The latest increase in sales was the highest since April 2018, when sales rose 8.3 percent.

Sales of non-food grew 9.2 percent annually in October and those of automotive fuels, and food, drinks and tobacco rose by 5.8 percent and 0.2 percent, respectively.

On a monthly basis, retail sales fell 0.2 percent in October, after a 0.8 percent increase in the preceding month.

Separate data from the statistical office showed that the jobless rate fell to a seasonally adjusted 13.9 percent in September from 14.1 percent in August. In the same month last year, the unemployment rate was 11.5 percent.

On an unadjusted basis, the jobless rate for 15-64 year olds increased to 14.1 percent in September from 11.7 percent in the same month last year.

The unemployment rate for those above 15 years of age climbed to 13.8 percent from 11.4 percent.

The youth unemployment rate rose to 26.1 percent in September from 21.6 percent in the same month last year.

The material has been provided by InstaForex Company – www.instaforex.com