Retail sales grow 6 percent annually in May

The retail sales volume increased by 5.8 percent in May from a year ago, after surging more than 10 percent in the previous month, data from the Turkish Statistical Institute (TÜİK) have shown.

On a monthly basis, retail sales contracted 0.2 percent, which compared favorably with the 1.9 percent decline recorded in April.

The annual increase in food, drinks and tobacco products slowed from 10.3 percent to 8.1 percent, while non-food retail sales rose by 8.3 percent year-on-year in May, after expanding 13.2 percent in April.

Computer, books and telecommunication equipment sales, which climbed 21.7 percent in April, were up 12.2 percent.

The outlook in the textile sector was more promising. The annual increase in the sales of textile products, clothing and footwear accelerated from 1.6 percent to 4.4 percent. On a monthly basis, the market expanded 0.9 percent month-on-month in May after shrinking 1.7 percent in April.

Mail and online orders grew 18.8 percent, slowing from April's 21.2 percent.

The trade sales volume index, on the other hand, declined by 3.8 percent in May from a year ago, TÜİK also said.

Wholesale trade volume fell 4.6 percent annually.

Separate data from TÜİK showed that the combined turnover of the industry, construction, trade and services grew 66.8 percent in May, easing from the previous month's 72.3 percent.

In industry, the year-on-year increase was 60.4 percent, while it was 87.4 percent for the construction sector.

In the trade and services sectors, turnover rose by 65.1 percent and 80.6 percent in May from a year ago, respectively.