Turkey's calendar-adjusted retail sales volume index rose by 8% y/y in April after rising by 7.7% y/y in March, national statistics office TUIK reported on June 18.
Annual retail sales growth saw a peak point of 10.8% in January and slowed in the next two months before it moved up again in April.
Turkey’s average annual retail sales growth jumped to 5.7% in 2017 from 2.2% in 2016, according to the TUIK’s revised index. Based on the old series, annual retail sales growth slightly escalated from 0.8% in 2016, the lowest annual rise ever, to 1% in 2017.
The Turkish economy posted 7.4% of annual GDP growth in the first quarter of 2018. Private consumption was again the main engine with households’ final consumption in Q1 rising by 11% y/y, higher than the 6.6% seen in Q4 2017.
Turkey’s economic confidence index fell by a sharp 5% m/m to 93.5 in May, the lowest level seen since February 2017, data from national statistics office TUIK showed on May 30.
The seasonally-adjusted retail confidence index also declined for the fourth consecutive month, by 3.2% m/m to 97.1. The index saw 106.2 in January and has subsequently fallen in each subsequent month.
Consumer sentiment in Turkey declined by 2.8% m/m to 69.9 on the index in May, the lowest level recorded since December, data from national statistics office TUIK showed on May 23.