1st Quarter 2017

Gross National Income & Gross Domestic Product

Household Final Consumption Expenditure (HFCE) slows down

The household expenditure grew by 5.7 percent in the first quarter of 2017. This was slower than the 7.1 percent growth, in the same quarter of 2016.

Food and Non-alcoholic Beverages, sharing 39.7 percent of the total household expenditure, decelerated to 5.7 percent compared with the 6.4 percent growth recorded in the previous year. Miscellaneous Goods and Services, the next top contributor of HFCE, grew by 8.0 percent. This was slower than the 8.1 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, compared with the 10.5 percent growth posted in the previous year; Transport, 5.0 percent, slower than the previous year’s growth of 6.9 percent; and Restaurants and hotels, 8.0 percent, compared with 9.5 percent of 2016.

On the other hand, Recreation and culture pulled down the growth of HFCE with 2.0 percent contraction compared with 8.8 percent growth posted in 2016.

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