Household Final Consumption Expenditure (HFCE) slows down
The household expenditure grew by
4.5 percent in the third quarter of 2017. This was slower than the 7.2 percent growth in the same period of 2016.
Food and Non-alcoholic Beverages, sharing
41.0 percent of the total household expenditure, decelerated to 3.4 percent compared with the 8.4 percent growth recorded in the previous year. Miscellaneous Goods and Services, the next top contributor of HFCE, grew by 5.4 percent. This was slower than the 8.0 percent in 2016.
Aside from the above mentioned expenditure items, the other top contributors to the growth of HFCE were: Housing, water, electricity, gas and other fuels,
5.4 percent; Furnishings, household equipment and routine household maintenance, 10.7 percent; and Restaurants and hotels, 10.0 percent.
On the other hand, Alcoholic beverages and Tobacco pulled down the growth of HFCE with
7.7 percent decline compared with 6.9 percent growth posted in 2016.