Saudi consumer spending holds above $3.5bn as back-to-school boost fades

RIYADH: Saudi Arabia’s consumer spending remained above $3.5 billion in the week ended Sept. 12, despite a 12.9 percent decline from the previous week as education-related spending eased after the back-to-school surge, official data showed. The Kingdom’s point-of-sale transactions totaled SR13.79 billion ($3.68 billion) during the week, while the number of transactions fell 4.8 percent to 254.91 million, according to data from the Saudi Central Bank, or SAMA. The weekly decline was led by educ