China Outlines Two-Phase Chang'e 4 Moon Lander Mission           >>           Facebook Suspends Trump-Linked Data Firm Cambridge Analytica           >>           Food App Ritual Is Sharing Users' Precise Workplace Information           >>           When China Hoards Its Hackers Everyone Loses           >>           Standalone Oculus Go Headset Could Debut At Facebook's F8 Event           >>           Driver Tries To Get Out Of Offence By Saying She’s Homer Simpson           >>           The Chainsmokers' Alex Pall Steps Out With Katelyn Byrd 2 Months After Cheating Scandal           >>           Physical Activity May Be More Important Than Diet For Preventing Type 2 Diabetes, According To New Research           >>           Are Your Computer Screens Causing Dry Eye Problems? Eat More Good Fats To Repair The Lipid Layer           >>           The Health Legacy You Give Your Children Will Affect Your Grandchildren, Too           >>          














+673 222-0178 [Office Hour]

+673 223-6740 [Fax]


Upcoming Events

Whiz Fizz Lab
March 16th, 2018 | 10:00 AM

Parents Coffee Morning
March 16th, 2018 | 09:30 AM

Kids Hip Hop Weekend
March 16th, 2018 | 10:00 AM

Blood Drive
March 16th, 2018 | 09:00 AM

School Holiday Movie Night
March 17th, 2018 | 19:40 PM

Prayer Times

The prayer times for Brunei-Muara and Temburong districts. For Tutong add 1 minute and for Belait add 3 minutes.


: 04:58AM


: 05:08AM


: 06:25AM


: 06:47AM


: 12:29PM


: 03:38PM


: 06:31PM


: 07:40PM


The Business Directory




  Home > Philippines

Outlook On PH Consumer Remains Positive — BMI Research

A shopper checks her grocery list at a supermarket inside a shopping mall in Manila. (REUTERS/Cheryl Ravelo / MANILA BULLETIN)


 February 16th, 2018  |  10:10 AM  |   874 views



Remittances from Overseas Filipino Workers (OFWs) along with improving labor sector are seen to remain the main drivers of Philippines’ consumer outlook.


“The consumer outlook in the Philippines remains bright on the back of a strong economic performance and rapidly rising incomes, influenced by a tight labor market and sustained remittance inflows,” BMI Research said in a research note dated Feb. 14, 2018.


The research unit of Fitch Group forecasts growth of inflows from OFWs to remain strong this year.


On Thursday, the Bangko Sentral ng Pilipinas (BSP) reported the 4.3 percent growth of total remittances in 2017 to USD28.06 billion from year-ago’s USD26.9 billion.


The research note explained that inflows from Filipinos working abroad “act as a vital source of secondary income for Filipinos and will continue to buttress levels of household spending over 2018.”


“With over 2.5 million Filipinos living and working in the US, Philippine households will continue to receive a large share of remittances in USD (US dollar) and therefore depend on the strength of the USD,” it said.


The study, however, cited that “Philippine households receiving remittances denominated in USD will see purchasing power fall as the USD depreciates, acting as a drag on essential spending categories such as food and clothing.”


Amid this, BMI Research continues to be optimistic on Philippine consumers because of improving labor market.


Citing Philippine Statistics Authority (PSA) data, the study noted the decline of unemployment rate to five percent in October 2017, which it said, is one of the lowest levels since 2005.


“We forecast unemployment to come in at 7 percent in 2018, remaining stable from 2017,” it said.


BMI expects inflation to be on the uptrend this year following the rise to four percent last January, the upper end of the government’s two to four percent target for 2017-19, from December 2017’s 3.3 percent.


It, however, discounts this as a negative to consumption.


It explained that “despite a pickup in inflation, consumer confidence in the Philippines remains high, standing at 94.5 on the MasterCard Index in December 2017, up from 91.6 in December 2016.”


“The score is also close to the highest level of 95.2 in June 2016 since the beginnings of records in 1995,” it added.




by The Philippine News Agency


If you have any stories or news that you would like to share with the global online community, please feel free to share it with us by contacting us directly at pr@brudirect.com


Related News

83% Of Malaysians Have Received Govt Aid – Rahman

 2018-03-17 09:00:56

US-North Korea Meeting: N Korean Minister In Surprise Sweden Visit

 2018-03-17 09:33:01

G-20 Sees Global Tension, End to Cheap Money as Risk to Growth

 2018-03-17 10:58:12