Filipinos are expected to spend more starting this year, ushering the full recovery of consumer spending in 2022, a global research company said.
The firm said overall spending could reach ₱10.6 trillion in 2021 — still down from the ₱11.1 trillion in pre-pandemic 2019. Fitch also forecasted better unemployment figures this year. From 14.5% in 2020, the rate is expected to ease to 11%. With the Philippine economy primarily being driven by household spending, the company said it also expects a 5.3% growth in gross domestic product in 2021 from the record 9.6% dive last year.
U don’t know!!! Only God knows !!!
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