Saudi weekly consumer spending dropped before Ramadan

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RIYADH: Spending in Saudi Arabia dropped 11.7 percent last week to about SR10 billion ($2.6 billion), Al Eqtisadiah reported, citing SAMA data.

This decline for the week ending April 10 ahead of the start of Ramadan, comes after a record level the previous week, since the central bank started publishing weekly data at the end of May 2020.

The food and beverage sector accounted for the lion's share or total sales at 17.4 percent of total sales, amounting to SR1.74 billion. But that still represented a 9.6 percent drop from the previous week

The education sector recorded a 22.9 percent decline, as sales amounted to about SR100.3 million.

The telecommunications sector also recorded a 16.5 percent decline.

Point of sale (POS) transactions decreased during the past week by about 5.4 per cent, to reach about 96.1 million operations across all sectors compared to about 101.6 million operations for the previous week.

Spending in Riyadh dropped by 9.3 percent to SR3.14 billion.

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