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Article: SAUDI ARABIA'S IMPROVED CONSUMPTION CLIMATE.(through mid-2003, purchasing power will grow by 1-3%)
- Article from:
- Market Africa Mid-East
- Article date:
- December 1, 2002
CopyrightCOPYRIGHT 2002 Media Contact Resources, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Saudi Arabian consumers and businesses are benefiting from improved liquidity and a generally favorable macroeconomic climate. Modest growth in purchasing power in the range of 1 to 3 percent will contribute to corresponding growth in household purchases of non-durable goods through midyear 2003. Expenditure on durable goods will expand at a rate of less than 3 percent year-on-year due to ongoing tensions in the Middle East. Look for sales of durables to show gains approaching 5 percent late in 2003 as increased global demand for oil gives the Saudi economy a boost.
The nation's banks have benefited of late from the tendency of consumer preference for putting ...
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