Turkey Retail Sales YoY

Retail sales in Turkey rose by 25.1% year-on-year in February 2024, sharply accelerating from an upwardly revised 13.7% growth in the previous month. This marked the strongest growth in retail activity since July 2023, as sales increased significantly for non-food products (36.5% vs 19.7% in January), computers, peripheral units & software, books, telecommunications equipment, etc. (56.1% vs 36.3%), audio & video equipment, hardware, paints & glass (25.2% vs 8.9%), textiles, clothing & footwear (16.1% vs 1.1%), and pharmaceutical goods, medical & orthopedic goods, cosmetic & toilet article (17.9% vs 9.7%). At the same time, sales grew more for via mail orders & internet (59% vs 43.4%) and rebounded for automotive fuel (4.6% vs -1.9%). On a seasonally adjusted monthly basis, retail trade went up by 3.5% in February, following an upwardly revised 2.7% gain in the prior month.