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Saudi consumer spending rises by SAR 40bn in 11M

Saudi consumer spending rises by SAR 40bn in 11M
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Riyadh – Mubasher: Consumer spending in Saudi Arabia rose during the first eleven months of last year by 4.5% or SAR 39.92 billion, on the back of the increased point of sales (POS) operations.

Saudi consumer spending reached SAR 934.37 billion in the eleven-month period, compared with SAR 894.44 billion for the same period last year.

POS sales volume reached a new annual record by the end of November 2019, with a total of SAR 275.39 billion, registering a 22.6% growth in sales compared with the same period last year.

On the other hand, cash withdrawals declined by 1.1% between January and November of last year to SAR 676.98 billion, compared with SAR 684.46 billion.

Consumer spending rose by 7.4% or SAR 5.92 billion last November, compared with the same period last year, to a total of SAR 85.41 billion.