WHAT ARE CONSUMERS’ SPENDING PLANS IN THE 4TH QUARTER?

Filipinos generally expect to spend less in the final three months of 2020, according to the Bangko Sentral ng Pilipinas’ third-quarter Consumer Expectations Survey (CES) released on Sept. 24. According to the survey, the households’ spending outlook index on basic goods and services for the fourth quarter eased to 26.4% from 33.3% in the previous survey*, which signals that consumer spending will continue to be subdued. This also means that while respondents who expect higher spending for the fourth quarter outnumbered those who expect otherwise, the number that said so were fewer compared with the previous survey results. More households expect to increase their spending on transportation and communication in the fourth quarter, while the opposite is true for clothing and footwear and restaurants and cafés.