Consumer spend to speed up soon—BMI

Quick Summary:

DESPITE the slowdown in consumption in the first three months of the year, the country’s consumer spending is expected to speed up as inflation starts to ease, according to a UK-based think tank.

Factors that will lead to weaker external demand, BMI said, include slower growth in China in the coming quarters, while growth in the United States will be constrained by high interest rates.

In its Asia Consumer Watch, BMI, a unit of Fitch Solutions Company, said the gradual slowdown in inflation could provide a much-needed boost to consumption spending this year.

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Article Details

Author / Journalist: Cai U. Ordinario

Category: BusinessStartups

Markets: PhilippinesChinaHong KongJapanSingaporeUnited States

Topics: Household Rates Loans Debt Spending Year Growth Consumer Inflation 2023 Percent

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-26 @ 16:13:00 (3 days ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 726 words

Reading Time: 5 minutes read

Sentences: 26 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 21394975

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