Saudi Arabia’s consumer spending rises 13.4% in June amid economic recovery – The National
- Date: 02-Aug-2022
- Source: The National
- Sector:Retail
- Country:Saudi Arabia
Saudi Arabia’s consumer spending rises 13.4% in June amid economic recovery – The National
Consumer spending in Saudi Arabia rose by 13.4 per cent annually in June as the Arab world’s largest economy continues to recover from the impact of the Covid-19 pandemic.
Cash withdrawals, as well as point-of-sale (POS) transactions, climbed 1 per cent and 19 per cent, respectively, during the month, according to a report by Riyadh-based Jadwa Investment.
“Most sectors saw annual rises, whilst ’jewellery’, ’furniture’ and ’hotels’ recorded annual declines in June, at 2.3 per cent, 5.9 per cent and 7.9 per cent, respectively,” Jadwa said, citing POS transactions by each sector.
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