HOUSEHOLD CONSUMPTION could gradually improve in the second half as inflation eases and public infrastructure spending recovers, Economy Secretary Arsenio M. Balisacan said, although he ruled out a sharp rebound.
“I think that you don’t expect a major reversal. It will be slow, but as long as we see it is improving, I feel that’s good,” Mr. Balisacan told reporters in a mix of Filipino and English on Thursday.
However, he expressed hope that consumption will recover after the weak second quarter.
Philippine gross domestic product (GDP) expanded by 2.3% in the second quarter — a new post-pandemic low, amid tepid consumption growth and sluggish public spending.
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