World

Saudi consumer spending holds above $3bn as jewelry sector sees rise

RIYADH: Saudi Arabia’s consumer spending remained above $3 billion in the week ended Oct. 24, with outlays on jewelry jumping 19.6 percent, official data showed. The Kingdom’s point-of-sale transactions totaled SR11.78 billion ($3.14 billion) during the seven-day period, down 6.5 percent from the previous week, while the number of transactions fell 7 percent to 229.12 million, according to the Saudi Central Bank, known as SAMA. Jewelry was the standout category, reaching SR427.61 million, even