Signs of slowing Saudi consumer spending could prove a drag on nation’s economy | The National

Signs of slowing Saudi consumer spending could prove a drag on nation’s economy | The National:



"Saudi Arabians are not spending as much as some economists have predicted, leading to concerns that consumption in the region’s juggernaut economy could be stalling.



While the kingdom’s economy has been on a roll — helped by firm oil prices — some economists are concerned that higher interest rates and a lack of fresh stimulus may dampen consumption growth. That may have a knock-on effect on the overall economy later this year.



“There are signs that domestic demand is weakening,” said William Jackson, an emerging markets economist at the London-based Capital Economics. "



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