Lebanese retail sector witnesses further decline in Q1 2014

: Sunday, June 01 - 2014 @ 00:15

According to the Beirut Traders Association-Fransa Bank Retail Index, Lebanon’s retail sector showed no sign of ending its steady decline in the first quarter of 2014, despite optimism at the time over the formation of a new cabinet in February, The Daily Star has reported. The index reported a 7.2% year-on-year drop in the first quarter, which the report said was “extremely worrisome,” especially considering “that activity in the first quarter of 2013 had already posted a 14.4% decrease in comparison to the same quarter of 2012.” The index showed drops across most retail sectors, with the largest being a 25% drop in liquor and spirit sales. Supermarkets saw only a 3% drop, while restaurant sales were down 10%.

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Sunday, June 1- 2014 @ 0:15 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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