RIYADH: Saudi Arabia’s point-of-sale transactions remained above the $3.5 billion mark for the third consecutive week, driven by a 76.7 percent rise in education spending in the week ending Aug. 16.
The increase comes as the back-to-school season gains momentum, with educational institutions across the Kingdom set to resume after the summer break.
The education sector recorded SR444.86 million ($118.55 million) in transactions, alongside a 13.5 percent uptick in volumes to 183,000. It was one of only four sectors to register growth during the period.
Total POS value stood at SR13.5 billion despite a 1.5 percent weekly drop, underscoring the resilience of consumer activity, according to data from the Saudi Central Bank.
Within transportation, which declined 20 percent overall, subcategories showed pockets of growth. Spending on vehicles and spare parts rose 5.2 percent to SR569.65 million, while freight transport and postal services edged up 0.3 percent to SR48.81 million.
