retail in Turkey for January grew at the fastest annual rate pace Since early 2021, driven by wide-ranging increases across the food and non-food sectors, official data revealed on Monday.
Retail sales increased by 33.9% in January of the previous year, said the Turkish Statistical Institute (TurkStat). It was a bigger sign growth from 21.4% increase in December. Sales grew as fast as they could pace Since April 2021.
Registration of food, beverage and tobacco sales a double-number growth of The data revealed that 24.4% and non-food sales jumped 42.4%. the increase in Automotive fuel sales amounted to 23.6%.
Month-overMonth-on-month, retail sales rose 5.4%, after 3.7% in December. risesaid the Turkish Statistical Institute.
Sales of food, beverages and tobacco rose 7.4% month-over-month, while non-food sales – excluding motor fuels – increased 5.6%. Motor fuel sales increased by 2.1% compared to January.
Among non-food items, electronic goods and furniture saw the largest increase of 10.6%, while textiles, clothing and footwear declined by 1.2% from the previous month.
Another report from the statistician office revealed that total turnover index, including industry and construction, trade The service sectors increased by 94%. on on an annual basis in January after rising 90.5% in December.
The data has been released last The week showed that industrial production rebounded in January, driven by manufacturing activity. Industrial output rose 4.5%. on the yearand in In contrast to a drop of 0.4% in December.
Big increases in Industrial production and retail sales in Jan suggests that economy Owns off To strong start in In early 2023, Capital Economics economist Liam Beach said.
Activity will be disrupted by the devastating earthquakes that hit the southeast of the country region last month, however latest survey data for Feb indicates that no effect on The manufacturing sector was limited, according to the economist added.
President Recep Tayyip Erdogan vowed speed campaign He said that the affected areas will be rebuilt within the limits of a year.
Business groups and economists estimate the costs of the earthquake’s fallout of $100 billion and a shave of one to two percent points off The country’s gross domestic product.
The United Nations Development Program said the damage caused by the disaster was estimated to have occurred over $100 billion. The World Bank estimated that the earthquakes were caused more of $34 billion in Damage, with recovery Probably double This amount.
to mitigate the repercussions government rolled out short-term work allowances for workers f easier access on loans for affected companies.