FINANCIAL NEWS

Kuwait’s consumer sector to increase despite moderation

03 Feb 2016

(MENAFN) Kuwait’s consumer sector will achieve an increase despite some moderation, whereas household’s debt growth stayed in the double-digits.

Moreover, household debt growth maintained a strong pace in recent months, with the pace hurrying over the last six months trailing two years of moderating growth.

Additionally, growth came in at 12.9 percent yearly in Nov 2015, and personal services excluding credit for the purchase of securities grew to USD 35.61bn.

Growth in consumer card spending increased by 17.8 percent Y/Y, involving consumer’s ATM cash withdrawals also picked up to 11.1 percent yearly.

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