Household Final Consumption Expenditure (HFCE) slows down
The household expenditure grew by
5.9 percent in the second quarter of 2017. This was slower than the 7.5 percent growth in the same quarter of 2016.
Food and Non-alcoholic Beverages, sharing
41.2 percent of the total household expenditure, decelerated to 6.0 percent compared with the 7.4 percent growth recorded in the previous year. Miscellaneous Goods and Services, the next top contributor of HFCE, grew by 6.2 percent. This was slower than the 7.7 percent in 2016.
Aside from the abovementioned expenditure items, the other top contributors to the growth of HFCE were: Housing, water, electricity, gas and other fuels,
6.6 percent growth; Transport, 7.6 percent, compared with the 10.8 percent growth posted in the previous year; and Restaurants and hotels, 11.4 percent, compared with 9.0 percent of 2016.
On the other hand, Recreation and culture pulled down the growth of HFCE with
1.1 percent decline compared with 14.8 percent growth posted in 2016.