BSP survey: Consumer spending less upbeat in Q3
In the third quarter, Filipino consumers are expected to reduce their spending based on the results of the central bank’s second-quarter Consumer Expectations Survey (CES). The confidence index (CI) on consumer spending for the next quarter fell to 39.6% from 41.3% previously. Consumers will spend less on food, nonalcoholic and alcoholic beverages, and tobacco (60.6% from 63.7%), fuel (47.8% from 50.8%) and transportation (41.3% from 42.9%), among others. Meanwhile, consumer spending will increase in electricity (61.6% from 61.4%), water (44.9% from 44.3%), and personal care and effects (39.6% from 36%), among others.