(MENAFN) The National Bank of Kuwait (NBK) has unveiled the country to have recorded an 8.5 percent year-on-year surge in its consumer spending index in June.
NBK explained the increase to be driven by a recovery in the consumption of durables and non-durables, with the end of Ramadan being a factor in rising spending of the components.
In the Update, the bank also showed spending on services to have shrunk as a result of an early summer, however it still preserve a good growth relative to a year ago.
It added that spending keeps on being supported by tougher oil prices along with boosting consumer confidence.
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