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Saudi weekly consumer spending up 11.5%
Consumer spending in Saudi Arabia increased significantly during the past week, reaching $4.21 billion, representing an 11.5% rise compared to the previous week. The spending was primarily concentrated in the food and beverage sectors, which saw a growth rate of 22.8%, as well as in education and books with the start of the new school year. Point-of-sale transaction activity also grew by 7.6%, totaling 255.38 million transactions, with increased spending in major cities like Riyadh and Jeddah, and supporting growth in the transportation, healthcare, and jewelry sectors. This decline is considered a sign of the Saudi market's recovery and a boost in consumer confidence, especially with increased expenditure on vital sectors. It reflects ongoing economic growth and improved market conditions.
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