Based on official data, point-of-sale spending in Saudi Arabia increased by 2.8 percent each week to SR11.2 billion ($2.99 billion) between July 21 and July 27.
The education sector experienced the largest gain of 23.4 percent over the week, according to the most recent data from the Saudi Central Bank, or SAMA. The total value of transactions increased to SR116.1 million, up from SR94.1 million in the previous seven days.
After falling by 8.8 percent the previous week, POS expenditure in the Kingdom resumed its upward trend from July 20 to July 27.
This week’s SAMA data revealed that Saudis spent SR209.9 million on jewelry, representing the second-largest increase this week with a gain of 18.8%.
Hotel spending increased as well, placing third with a rise of 8.6 percent and SR293.6 million in value.
There have been no negative purchase value figures in this week’s POS transactions. Spending on food and drink, which made up the second-largest portion of POS transactions and brought the overall expenditure to SR1.65 billion, saw the least increase, at 0.4 percent.
Gas stations saw the second-smallest increase, at 0.8 percent, with transaction values reaching SR782.4 million during the course of the observation period.
Restaurant and cafe expenditures, which totaled SR1.69 billion, led POS spending for the second week in a row. The health sector, at SR706.3 million, and this sector had the third-smallest increase of 1.4 percent each.
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