TUIK announces 2.6 percent decrease in retail sales volume in Turkey in October

Turkish Statistical Institute has shared that retail sales volume decreased by 2.6 percent in Turkey, in October 2018 as compared to the previous month. In the given month, food, beverage and tobacco sales decreased by 2.1 percent, non-food sales (excluding automotive fuel) declined by 3.2 percent and automotive fuel sales went down by 1.6 percent.

On the other hand retail sales volume decreased by 7.5 percent in October compared to the same month last year. In this period, non-food sales (excluding automotive fuel) decreased by 12.1 percent, automotive fuel sales by 7.6 percent, while food, beverages and tobacco sales increased by 1.6 percent.

Looking at the economic picture forecasted to follow in the coming months the sector is certainly concerned as the government has to fight a strong inflation and fluctuations (actually likely devaluation) in TL against U.S. dollar. If the administration chooses to practice a tight economy (which seems to be a must, really) in the coming period the consumers would normally have less in pocket to spend for a healthy flow of the system. Thus the likelihood that Turkey is to experience a slow-down in economy seems to be quite strong starting March or April 2019 – that is right after the municipal elections.