According to official figures, Saudi Arabia’s point-of-sale spending during the week of August 4–10, reached SR13.09 billion ($3.48 billion), which was less than the SR14.7 billion spent the week before.
The education sector was the only one to grow, rising by 90.6 percent to reach SR444.7 million, according to figures from the Saudi Central Bank. The sector has grown for the third week in a row.
The start of the new academic year is the cause of the increase in transactions in the industry. After their summer break, schools, colleges, and universities are apparently ready to resume classes. The industry has seen a spike in transactions as a result.
This week’s SAMA data revealed that Saudis have spent SR244.8 million on jewelry, representing the smallest decline of the week—a 5.3% decline.
In the meantime, the largest portion of POS transactions for the week—SR1.95 billion—was attributed to expenditures in cafes and restaurants, which decreased by 7.3 percent. The amount spent on building supplies and construction fell by 7.3% to SR334.2 million.
With SR1.78 billion in spending, the food and beverage industry accounted for the second-largest proportion, followed by miscellaneous goods and services at SR1.51 billion.
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