Turkish retail sales recover in May after April dip

Retail sales volume in Turkey increased nearly 4 percent in May, after a monthly basis fall in April that followed increases in the previous three months.

Retail sales with constant prices were up 3.7 percent, while seasonal and calendar-adjusted sales with constant prices increased 0.3 percent, according to data published by the Turkish Statistical Institute (Tüik) on Wednesday. 

Turkey’s economy entered a recession in the second half of last year before emerging in March with quarter-on-quarter growth of 1.3 percent.

On Wednesday, more than 40 economists polled by Reuters predicted a contraction of 1.5 percent in the Turkish economy in 2019, while the government envisages 2.3 percent expansion. 

Retail turnover increased 1.8 percent in May compared to the previous month, but dropped by 15.6 percent when compared with the same month of 2018, Tüik said.