Saudi Arabia's POS transactions fluctuate in early September to reach $3.5bn

Spending in the education sector led the dip, recording the highest decrease at 43.6%

09/12/2024 15:20 AST

Saudi Arabia's point-of-sale transactions dipped in the first week of September, dropping by 4.9 percent from the previous week to reach SR13.3 billion ($3.5 billion), with the education sector leading the decline. The latest figures from the Saudi Central Bank, also known as SAMA, showed that spending in the education sector led the dip, recording the highest decrease at 43.6 percent, with total transactions reaching SR350 million. This week marks the third time in a row the education sector witnessed a decrease in spending after surging for four consecutive weeks, coinciding with the start of the academic year on Aug. 18. During the first week of September, spending on public utilities saw the second-largest decline at 25.1 percent to SR59 million. Spending on culture and recreation recorded the third biggest dip with a 12.2 percent negative change, reaching SR293.4 million. Expenditure on miscellaneous goods and services recorded the smallest decline at 0.7 percent, reaching SR1.57 billion during this period.


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