Lebanese retail sector witnesses further decline in Q1 2014

June 1, 2014 12:15 am

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%.