RIYADH: Saudi Arabia’s point-of-sale spending jumped dramatically in the final week of January, about 28 percent more than the previous week, as consumer outlays rose across almost all industries. According to the Saudi Central Bank, POS transactions totalled SR16 billion ($4.27 billion) in the week ending January 31, up 27.8 percent from the previous week. Transaction volumes increased 16.5 percent to 248.8 million, indicating increased retail and service activity.
Jewellery spending increased the most (55.5 percent) to SR613.69 million, followed by washing services, which increased 44.4 percent to SR62.83 million. Personal care spending surged by 29.1 percent, while book and stationery purchases jumped by 5.1 percent. Hotel spending increased 7.4% to SR377.1 million.
Additional advances were made in other categories. Spending on pharmacies and medical supplies jumped 33.4 percent to SR259.19 million, while medical services increased 13.7% to SR515.44 million. Food and beverage expenditure increased 38.6 percent to SR2.6 billion, representing the majority of the overall POS value. Restaurants and cafes saw a 20.4% increase to SR1.81 billion. Apparel and garment spending increased 35.4 percent to SR1.33 billion, the third-largest increase of the week.
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