Turkish retail sales jump to 12-month high
Retail sales in Turkey surged to the highest level in at least 12 months in December as economic growth appeared to remain robust and the lira stabilised against foreign currencies.
Sales volume, measured at constant prices and calendar-adjusted, rose 5.4 percent from a year ago, with food, drink and tobacco sales climbing 4.2 percent and automotive fuel sales advancing 18.2 percent, the statistics agency in Ankara said on Thursday.
Sales on a monthly basis, seasonally and calendar adjusted, increased 0.8 percent from November. Non-food sales rose 1 percent and automotive fuel sales 5.4 percent.
Turkey’s government has sought to boost the economy with loan incentives and tax breaks after a failed military coup in July 2016 and ahead of presidential and parliamentary elections due next year. Economic growth in 2017 probably totalled about 7 percent, the government has said.