RIYADH: Saudi Arabia’s point-of-sale transactions remained above the $3 billion mark for the second week in a row due to a 32.5 percent increase in spending on education in the week ending Aug. 9.
The sector recorded SR251.79 million ($67.09 million) in transactions despite a 3.2 percent dip, reaching 161,000. It was the only one to see a positive change during the monitored period.
The total POS value stood at SR13.6 billion with a 12.3 percent weekly drop, underscoring the resilience of consumer activity across the Kingdom, according to data from the Saudi Central Bank, also known as SAMA.
The subcategory of pharmacies and medical supplies saw the largest decrease, dropping by 24.7 percent to SR278.94 million. Spending on freight transport and courier services ranked next, falling 23.8 percent to SR48.68 million.
Food and beverages, the sector with the biggest share of total POS value, recorded a 17.8 percent decrease to SR1.93 billion. In comparison, the restaurants and cafes sector saw a 7.9 percent decrease, totaling SR1.75 billion and claiming the second-largest share of this week’s POS.
