Total turnover up 12.6% in July

Total turnover up 12.6% in July

ISTANBUL-Anadolu Agency
Total turnover up 12.6% in July

Turkey's economy saw an annual hike in total turnover in July, the nation's statistics authority announced on Sept. 16.

"Calendar adjusted total turnover index including industry, construction, trade and services sectors increased by 12.6% in July 2019 compared with the same month of the previous year," Turkish Statistical Institute (TÜİK) said.

The index jumped most with 23% in the services sector in July year-on-year, according to the official figures.

Industry, trade and construction sectors also posted increase by 12.5%, 12.2% and 6.8%, respectively.

On a monthly basis, seasonally and calendar-adjusted total turnover index increased by 2.8% in July.

According to TÜİK's definition, turnover is an important short-term indicator used to assess the country's economic situation.

"Turnover Indices are calculated to follow the changes of this concept which is composed of sales of goods and services invoiced by the enterprise in the reference month over time, to monitor the development in quarterly and yearly basis," it said.

All the enterprises which give value-added tax declarations to the country's Revenue Administration are included in the turnover index calculation.

Retail sales volume down in July

Turkey's calendar-adjusted retail sales volume with constant prices dropped by 3.7% year-on-year in July, TÜİK announced on Sept. 16.

Automotive fuel sales posted the highest annual decrease among main economic activities with 5%, TÜİK said.

While non-food sales fell by 4.5%, food, drinks and tobacco sales dropped 1%, TÜİK reported.

Among non-food, the volume of textile, clothing and footwear sales rose by 14.6%, and medical goods and cosmetic sales went up 2.6% in the same period.

Sales by mail orders and internet saw an annual increase of 15.2% in July.

Meanwhile, sales volume of the electronic goods and furniture dropped by 20.8%, and computers, books, and telecommunications equipment's sales volume decreased 7.5%.

Retail turnover with current prices

TÜİK also revealed that the calendar-adjusted retail turnover with current prices jumped 13.2% in July, on a yearly basis.

"In the same month food, drinks and tobacco sales increased by 18%, non-food (except automotive fuel) sales increased by 13.7%, automotive fuel sales increased by 5.8%," it added.

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