Turkey Retail Sales Growth Eases In March

(RTTNews) - Turkey's retail sales expanded at the slowest pace in eight months in March, the Turkish Statistical Institute said on Monday.

The volume of retail sales climbed 9.2 percent on a yearly basis in March, following a 12.6 percent growth in February.

Further, this was the weakest growth since July last year, when sales had risen 6.0 percent.

The annual sales growth in non-food products, except automotive fuel, softened to 10.6 percent from 14.0 percent.

Similarly, sales of food, drinks, and tobacco grew at a slower pace of 8.0 percent versus a 13.4 percent increase in February. Data showed that automotive fuel sales rebounded 4.1 percent.

During March, online sales growth moderated to 3.0 percent from 6.9 percent.

On a monthly basis, retail sales decreased 1.4 percent, in contrast to the 1.2 percent gain in the prior month. Moreover, it was the first fall in ten months.