HOUSEHOLD spending in the Philippines is expected to grow by 4 percent this year but the full recovery of the consumer and retail sector will only take place in 2022, Fitch Solutions said.
In a report released on Thursday, Fitch Solutions said that while total household spending (in real terms) is forecast to reach P10.6 trillion this year, the figure is still significantly lower than the P11.1 trillion in 2019.
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