In a surprising turn of events, Turkey's retail sales growth took a sharp dip in October 2024, as newly released data indicates. According to the recent figures updated on December 11, the retail sales indicator has markedly decreased to 0.2% compared to the 2.3% growth experienced in September 2024.
This month-over-month comparison highlights a significant deceleration in consumer activity despite the previously robust growth rate. The earlier indicator for September exhibited a stronger performance, suggesting a potentially concerning trend for the Turkish economy as it enters the festive season.
The noticeable slowdown could be attributed to several factors that might undermine consumer confidence or spending power, warranting a closer look from both market analysts and policymakers as they analyze the economic implication of these latest figures. This change calls for strategic assessment to mitigate any adverse effects on Turkey's economic trajectory as the year comes to a close.
