RIYADH: Saudi Arabia\u2019s consumer spending held steady at SR15.8 billion ($4.2 billion) in the week ending Sept. 5, even as education-related transactions pulled back following the previous week\u2019s back-to-school surge, official data showed.\u00a0<\/p>\n
The Kingdom\u2019s point-of-sale transactions edged up 0.2 percent from the previous week, while the number of transactions rose 4.8 percent to 267.75 million, according to figures from the Saudi Central Bank, also known as SAMA.<\/p>\n
The largely flat overall spending masked a sharp correction in education-related transactions, which fell 31 percent week on week to SR755.97 million, after climbing well above SR1 billion as the new academic year got underway.\u00a0<\/p>\n
Talking to Arab News, economist Talat Hafiz said the pattern suggests that Saudi consumer demand is becoming broader, more normalized, and more resilient, rather than being driven mainly by seasonal spikes such as back-to-school spending.\u00a0<\/p>\n
\u201cThe rise in transactions even as education spending normalizes indicates that households are continuing to spend across a wider range of goods and services,\u201d he added.\u00a0\u00a0<\/p>\n
\u201cOverall, this points to solid underlying household spending capacity heading into the last quarter of the year, particularly as inflation remains contained and employment and income conditions continue to support consumption,\u201d said Hafiz.\u00a0<\/p>\n Sectoral spending\u00a0<\/strong><\/p>\n According to SAMA, spending on food and beverages amounted to SR2.69 billion, representing a weekly increase of 3.9 percent.\u00a0<\/p>\n Transactions in restaurants and cafes stood at SR1.81 billion, up 1.9 percent, while spending on apparel, clothing and accessories totaled SR1.28 billion, down 9.6 percent.\u00a0<\/p>\n The transportation sector witnessed POS transactions worth SR1.15 billion, followed by spending at gas stations at SR1.1 billion.\u00a0<\/p>\n Across healthcare, the value of transactions stood at SR964.71 million, up 7.9 percent, while spending on professional businesses and services amounted to SR906.1 million, up 3.8 percent.\u00a0<\/p>\n Jewelry stood out as the week\u2019s biggest gainer, with transactions surging 25.4 percent week on week to SR345.61 million, while books and stationery reversed course, falling 8.6 percent to SR182.49 million after the previous week\u2019s back-to-school jump.\u00a0<\/p>\n Geographic breakdown\u00a0<\/strong><\/p>\n Riyadh dominated POS transactions, with spending in the capital reaching SR5.53 billion, marking a 0.6 percent increase compared with the previous week, as the number of transactions climbed 5.6 percent to 88.2 million.\u00a0<\/p>\n Jeddah witnessed transactions amounting to SR2.14 billion, up 1.4 percent, while the total number of transactions stood at 29.68 million.\u00a0<\/p>\n In Dammam, consumer spending totaled SR762.42 million, roughly flat from the week before, followed by Makkah at SR614.20 million, down 1.9 percent, and Madinah at SR592.46 million, down 4.1 percent.\u00a0<\/p>\n Alkhobar recorded SR427.12 million in transactions, down 2.3 percent, while spending in Buraidah rose 2.9 percent to SR403.31 million. <\/p>\n Abha posted the sharpest citywide decline at 7.5 percent, with transactions falling to SR199.18 million.\u00a0<\/p>\n<\/div>\n![\"\"\/](\"https:\/\/assets.maestronewsroom.com\/media\/30f6532d-717b-4366-9158-9c455299fcd9\/1789115968364-27cd27677fce56f3.jpg\")
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