{"id":324517,"date":"2023-08-17T01:26:22","date_gmt":"2023-08-16T17:26:22","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=324517"},"modified":"2023-08-17T01:28:10","modified_gmt":"2023-08-16T17:28:10","slug":"phl-gdp-consumption-growth-2","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/phl-gdp-consumption-growth-2\/","title":{"rendered":"Weak consumption growth could further dampen PHL’s GDP growth"},"content":{"rendered":"\n

Analysis and Recommendation<\/h2>\n\n\n\n

The Philippines reported that is Gross Domestic Product (GDP) grew by 4.3% in the second quarter of 2023, a drastic decline from last quarter\u2019s 6.4% growth. Zooming in on the likely cause, Q2 consumption growth recorded disappointing figures compared to historical performance.<\/p>\n\n\n\n

The impact of inflation was felt as the decline in consumption was led by various areas of discretionary spending. Spending was driven mostly by basic necessities: F&B and Utilities, indicating that wallet share is going to Filipinos’ everyday needs.<\/p>\n\n\n\n

The bad news is based on past data prior to the pandemic, Q3 household consumption tends to come in weaker. Based on historical data, the country’s 3rd quarter consumption growth is typically the lowest, recording a median quarterly decline of 2.4% from 2013 to 2019.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

In our view, this may further compromise GDP growth and consumption. There is a risk that the 9-months (9M) 2023 consumption growth may further slow which would drag GDP performance given its significant share in GDP.<\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Here\u2019s a commentary on an important issue or event affecting the stock market<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-324517","post","type-post","status-publish","format-standard","hentry","category-special-reports","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/324517","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=324517"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/324517\/revisions"}],"predecessor-version":[{"id":324521,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/324517\/revisions\/324521"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=324517"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=324517"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=324517"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}