Saudi Arabia’s POS transactions kick off July with 34% surge as freight leads hike

RIYADH: Saudi Arabia’s total point-of-sale transactions reached SR16.9 billion ($4.5 billion) in the week ending July 4, a 34.3 percent jump from the previous week. According to the latest data from the Saudi Central Bank, the total number of transactions climbed 19.8 percent to 268.8 million during the seven-day period, compared to 224.3 million the week before. The rebound was broad-based, with every major sector posting gains. Freight transport, postal and courier services led the pack, surging 68.4 percent to SR70.3 million, while laundry services jumped 60.8 percent to SR74.1 million.