4th Quarter 2016

Gross National Income & Gross Domestic Product

Household Final Consumption Expenditure (HFCE) slows down

The household expenditure accelerated to 6.3 percent in the fourth quarter of 2016. This was slower than the 6.5 percent growth in the same quarter of 2015.
Food and Non-alcoholic beverages, sharing 43.1 percent of the total household expenditure, decelerated to 5.7 percent compared with the 6.5 percent growth recorded in the previous year. Miscellaneous goods and services, the next top contributor of HFCE, grew by 8.7 percent. This is slower than the 9.1 percent in 2015.
Aside from the abovementioned expenditure items, the other top contributors to the growth of HFCE were: Transport, 11.9 percent, faster than the previous year’s growth of 6.6 percent; Housing, Water, Electricity, Gas and Other Fuels, 5.4 percent, compared with the 1.1 percent growth posted in the previous year; and, Communications, 5.4 percent, slower than the previous year’s growth of 13.3 percent.
On the other hand, Clothing and Footwear pulled down the growth of HFCE with 2.4 percent contraction compared with 5.2 percent growth posted in 2015. 

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