RIYADH: Saudi Arabia’s consumer spending settled at $3.44 billion in the week ending Sept. 19, boosted by a jump in furniture and home supplies transactions even as most other sectors pulled back, official data showed. 

The Kingdom’s point-of-sale transaction value totaled SR12.92 billion ($3.44 billion) during the monitored week, down 6.3 percent from the previous week, while the number of transactions fell 5.4 percent to 241.1 million, according to data from the Saudi Central Bank, known as SAMA.

Furniture and home supplies led the week’s gains, with transaction value rising 11.4 percent to SR503.8 million, the sharpest increase of any category tracked. 

In an interview with Arab News, economist Talat Hafiz said that “the possible explanation for the increase in furniture and home supplies is the influence of Saudi National Day.” 

He explained that around this period, furniture and home-supply retailers typically offer attractive discounts and promotional campaigns, which may encourage households to bring forward planned purchases or take advantage of lower prices.  

“This could help explain the divergence between the overall decline in POS spending and the 11.4 percent increase in furniture and home supplies,” Hafiz added. 

Sectoral spending 

Electronic and electric devices followed, with spending rising 5 percent to SR203.45 million, while jewelry transactions climbed 2.5 percent to SR325.6 million. 

Construction and building materials edged up 1.3 percent to SR407.31 million, and hotel transactions rose 1.1 percent to SR257.88 million. 

The gains were overshadowed by a sharp pullback in education-related spending, which tumbled 42.8 percent week on week to SR180.69 million, the steepest sectoral decline in the report. 

Books and stationery transactions fell 18.4 percent to SR113.31 million, while freight transport, postal and courier services dropped 13.9 percent to SR30.66 million. Laundry services and recreation and culture spending also declined, down 12.3 percent and 11 percent, respectively. 

Spending on food and beverages amounted to SR2.07 billion, down 9 percent, while spending at restaurants and cafes totaled SR1.58 billion, a decline of 6.7 percent. 

Apparel, clothing and accessories spending stood at SR1.06 billion, down 3.4 percent, while the transportation sector recorded SR961.35 million in transactions, down 4.4 percent. 

Gas station transactions totaled SR978.7 million, down 7.2 percent, while healthcare spending reached SR881.99 million, a decline of 4 percent. Professional and business services amounted to SR763.44 million, down 6.8 percent. 

Geographic breakdown 

Riyadh continued to account for the largest share of POS transactions, with spending in the capital reaching SR4.66 billion, down 4.3 percent from the previous week, as the number of transactions fell to 81.33 million. 

Jeddah recorded transactions worth SR1.77 billion, down 6.2 percent, while Dammam posted SR663.96 million, a decline of 3.8 percent. 

Makkah followed with SR508.02 million in transactions, down 5.1 percent, while Madinah recorded SR487.32 million, down 6.2 percent. 

Al-Khobar posted the smallest weekly decline among the major cities cited, slipping just 0.7 percent to SR381.92 million, while Buraidah recorded SR325.18 million, down 6.9 percent. 

Taif saw one of the sharpest citywide declines, with transactions falling 12.5 percent to SR263.11 million.