RIYADH: Saudi Arabia’s point-of-sale transactions climbed 17.8 percent to SR15.79 billion ($4.21 billion), the largest increase in three weeks, as consumer spending accelerated across most sectors in a sign of robust economic momentum.
The number of transactions rose 11.2 percent to SR237 million in the week ended Aug. 30, according to data from the Saudi Central Bank.
The strong spending reflects sustained consumer confidence and the ongoing shift toward digital payments, supported by the Kingdom’s Vision 2030 reform initiative.
The food and beverage sector remained the largest spending category, rising 29.4 percent to SR2.30 billion. Restaurant and cafe spending increased by 9.9 percent to SR1.70 billion.
In contrast, POS spending in the hotel sector declined by 6.5 percent to SR254 million.
