Consumer spending in PH to grow in 2025: Fitch unit | ABS-CBN
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Consumer spending in PH to grow in 2025: Fitch unit
Consumer spending in PH to grow in 2025: Fitch unit
MANILA -- Consumer spending in the Philippines is expected to grow 5.3 percent in 2025, a unit of Fitch Solutions said Thursday.
MANILA -- Consumer spending in the Philippines is expected to grow 5.3 percent in 2025, a unit of Fitch Solutions said Thursday.
BMI said it expects household spending to reach P13.2 trillion this year after private consumption grew by 5 percent in 2024.
BMI said it expects household spending to reach P13.2 trillion this year after private consumption grew by 5 percent in 2024.
"A tight labor market will support spending, as real wage growth returns to positive territory, which will support purchasing power over the year," BMI said.
"A tight labor market will support spending, as real wage growth returns to positive territory, which will support purchasing power over the year," BMI said.
The think-tank noted that consumer confidence went up to -11.1 percent in the fourth quarter of 2024, even as numbers remained in the negative territory.
The think-tank noted that consumer confidence went up to -11.1 percent in the fourth quarter of 2024, even as numbers remained in the negative territory.
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It noted that easing inflation will provide relief to real household incomes and boost spending.
It noted that easing inflation will provide relief to real household incomes and boost spending.
BMI said it sees inflation climbing slightly upward to 3.3 percent, from the full-year 3.2 percent in 2024.
BMI said it sees inflation climbing slightly upward to 3.3 percent, from the full-year 3.2 percent in 2024.
The firm also said it sees unemployment improving to 4.2 percent in 2025. It was at 4.4 percent in 2024.
The firm also said it sees unemployment improving to 4.2 percent in 2025. It was at 4.4 percent in 2024.
BMI said government initiatives such as the Enterprise Productivity Act, the Apprenticeship Bill and the Lifelong Learning Bill will make Filipino workers more employable and promoting economic liberalization to attract more overseas investments.
BMI said government initiatives such as the Enterprise Productivity Act, the Apprenticeship Bill and the Lifelong Learning Bill will make Filipino workers more employable and promoting economic liberalization to attract more overseas investments.
Consumer spending is one of the key drivers of the Philippine economy.
Consumer spending is one of the key drivers of the Philippine economy.
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