Consumer spending through points of sale in Saudi Arabia during the past week ending on June 5 of this month achieved a growth of about 2.8 percent, compared to the previous week ending on May 29.
According to the monitoring unit of the reports in Al-Eqtisadiah newspaper, which was based on data from the Saudi Central Bank “Sama”, consumer spending during the week ending on June 5 amounted to about 9.42 billion riyals, compared to about 9.17 billion riyals for the previous week, with a difference of 253.9 million riyals.
Consumer spending recorded growth for the second week in a row, while the spending rate for the week ending on June 5 exceeded the average of the last 4 weeks of 8.9 billion riyals.
Regarding the performance of the sectors compared to the previous week, sales of most sectors grew, except for the “food and beverages” and “hotels” sectors, which fell by 32.3 and 3.1 percent, respectively.
The rises were led by the “education” sector, with a growth of 13.3 percent, with spending amounting to about 79 million riyals as the highest spending in 4 weeks, followed by the “clothing and shoes” sector, with a growth of 10.6 percent, with sales exceeding 645.32 million riyals.
Third, the “Miscellaneous Goods” sector, which recorded a growth of 9.1 percent, followed by the jewelry and furniture sector, with a growth of 7.7 and 6.8 percent, respectively.
As for the sectors that spend the most in terms of percentage, we find the sales of the “food and beverages” sector, which constitute 15.3 percent of the total sales of point of sale devices, which is equivalent to 1.44 billion riyals.
Then the “restaurants and cafes” sector sales come second, which constitutes 14.3 percent, or the equivalent of 1.34 billion riyals, to record the sector’s highest spending in 22 weeks, after recording a growth of 5.7 percent over the previous week.
At the level of cities, spending in the capital, Riyadh, grew by 5.3 percent to reach 2.91 billion riyals, which constitutes 30.1 percent of the total sales of points of sale, while spending in the city of Jeddah amounted to about 1.45 billion riyals and about 483 million riyals in the city of Dammam.
In addition, the number of operations executed through point of sale devices during the past week increased by 6.1 percent to reach about 102.4 million operations for all sectors, compared to about 96.5 million operations in the previous week.
Economic Reporting Unit