Saudi Arabia retail sales fall for third week in a row: SAMA
Falls were steepest in the education, telecommunication, and recreation and culture sectors
A Saudi money exchanger wears gloves as he counts Saudi riyal currency at a currency exchange shop in Riyadh, Saudi Arabia March 10, 2020. Image used for illustrative purpose
By LAMYAA BAGAZI, Arab News
Riyadh: The value of point-of-sale transactions in Saudi Arabia fell 7.6 percent in the week ending 23 October, the third week in a row of decline, according to Saudi's Central Bank (SAMA).
Bank data showed that PoS transactions fell to SR 8.02 billion ($2.14 billion) last week, down from SR 8.68 billion ($2.31 billion) in the previous week, a 5.2 percent slide. Before that shop sales tumbled 17 percent in the week ending 9 October.
In the latest report, falls were steepest in the education, telecommunication, and recreation and culture sectors, which dropped by 26.5 percent, 23.8 percent, and 13.6 percent, respectively.
Construction and building materials was the only sector to post an increase, with sales edging up by 0.4 percent.
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