Arthur Fuentes

Shoppers view a display of Chinese Zodiac forecasts for the Year of the Wood Snake at a shopping mall in San Juan City on January 26, 2025, days ahead the Lunar New year on January 29.   Gigie Cruz, ABS-CBN New

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Year of the Snake- Lunar New year

Benise Balaoing

ABS-CBN News

<p>MANILA -- Consumer spending in the Philippines is expected to grow 5.3 percent in 2025, a unit of Fitch Solutions said Thursday.</p><p>BMI said it expects household spending to reach P13.2 trillion this year after private consumption grew by 5 percent in 2024. </p><div><a href="https://www.abs-cbn.com/news/business/2025/1/30/philippine-gdp-grows-5-2-pct-in-fourth-quarter-misses-2024-target-1019" rel="noopener noreferrer" target="_blank">Philippine GDP grows 5.2 percent in fourth quarter, misses 2024 target</a></div><p>&quot;A tight labor market will support spending, as real wage growth returns to positive territory, which will support purchasing power over the year,&quot; BMI said.</p><p>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.</p><div><a href="https://www.abs-cbn.com/news/business/2024/12/20/business-consumers-more-optimistic-in-last-stretch-of-2024-1351" rel="noopener noreferrer" target="_blank">Business, consumers optimistic in last stretch of 2024</a></div><p>It noted that easing inflation will provide relief to real household incomes and boost spending.</p><p>BMI said it sees inflation climbing slightly upward to 3.3 percent, from the full-year 3.2 percent in 2024.</p><div><a href="https://www.abs-cbn.com/news/business/2025/1/7/inflation-quickens-in-december-but-full-year-rate-stays-within-target-0908" rel="noopener noreferrer" target="_blank">Inflation quickens in December but full-year rate stays within target</a></div><p>The firm also said it sees unemployment improving to 4.2 percent in 2025. It was at 4.4 percent in 2024.</p><div><a href="https://www.abs-cbn.com/news/business/2025/2/6/unemployment-slightly-falls-in-december-0942" rel="noopener noreferrer" target="_blank">Unemployment dips, underemployment edges up in December</a></div><p>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.</p><p>Consumer spending is one of the key drivers of the Philippine economy.</p><div><a href="https://www.abs-cbn.com/news/business/2025/1/9/ph-may-see-fewer-interest-rate-cuts-in-2025-fitch-unit-1247" rel="noopener noreferrer" target="_blank">PH may see fewer interest rate cuts in 2025: Fitch unit</a></div><div><a href="https://www.abs-cbn.com/news/business/2025/1/14/peso-may-breach-60-to-1-if-trump-s-policies-shock-market-fitch-unit-1727" rel="noopener noreferrer" target="_blank">PH may see fewer interest rate cuts in 2025: Fitch unit</a></div><div><strong>RELATED STORY:</strong></div><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/UeUygn92-Hw?autoplay=1&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div>

<p>Consumer spending in the Philippines is expected to grow 5.3 percent in 2025.</p>

Consumer spending in PH to grow in 2025: Fitch unit

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Consumer spending in PH to grow in 2025: Fitch unit

Benise Balaoing,

ABS-CBN News

Published February 06, 2025 03:50 PM PHT

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