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Turkey Retail Sales, Jobless Rate Fall

Turkey retail sales declined at the fastest rate in three months in July and the unemployment rate eased in June, data from the Turkish Statistical Institute showed on Monday.

Retail sales decreased 3.7 percent year-on-year in July, after a 0.9 percent fall in June.

The latest decline was the lowest since April, when sales was 6.5 percent.

Sales of automotive fuels declined 5.0 percent annually in July. Sales of non-food and food, drinks and tobacco fell by 4.5 percent and 1.0 percent, respectively.

On a monthly basis, retail sales fell 1.5 percent in July, after a 2.6 percent rise in the previous month.

Separate data from the statistical office showed that the jobless rate fell to a seasonally adjusted 13.9 percent in June from 14.0 percent in May.

On an unadjusted basis, the unemployment rate rose to 13.3 percent in June from 10.4 percent in the same period previous year.

The youth unemployment rate, which is applied to the 15 to 24 age group, rose to 24.8 percent in June from 19.4 percent previous year.

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