According to the Beirut Traders Association – Fransabank Retail Index, retail activity in Lebanon has dropped 8.5% in the third quarter amid economic slowdown, The Daily Star has reported. Consumer expenditures during the quarter fell across the board with clothing, education supplies and beverages falling 20%, 18% and 17%, respectively. Sales of shoes, foodstuff, tobacco and cosmetics fell 16.5%, 6.6% and 5.8%, respectively, the report said. "Trade activity has seen a significant decline in the third quarter of 2012. The real figure shows a significant decline of around 8.5% compared to the third quarter of 2011, after taking into consideration the official consumer price index of 10.3%," Fransabank said.