4th Quarter 2022

Gross National Income & Gross Domestic Product

Household Final Consumption Expenditure (HFCE) continues to grow for the previous seven quarters

HFCE grew by 7.0 percent in the fourth quarter of 2022. This was the seventh consecutive quarter of increase but lower compared with the 7.5 percent growth registered in the same quarter of the previous year. (Figure 5)

Meanwhile, on an annual basis, the HFCE expanded by 8.3 percent in 2022, which was an improvement from the 4.2 percent growth in 2021.

The following were the top contributors to the growth of HFCE: Restaurants and hotels, which grew by 24.7 percent; Food and non-alcoholic beverages, 3.8 percent; and Miscellaneous goods and services, 7.1 percent.

All other HFCE items also posted positive growths during the said period.

Figure 5. Household final consumption expenditure,
Q1 2020 to Q4 2022 Growth Rates, At constant 2018 prices

Sectors - Previous Releases

Featured Video

Press Conference on the 2022 Third Quarter Performance of the Philippine Economy
Press Conference on the 2022 Third Quarter Performance of the Philippine Economy

Contact Information

Technical Inquiries

Ms. Vivian R. Ilarina
Assistant National Statistician
Macroeconomic Accounts Service
(632) 8376-1996
v.ilarina@psa.gov.ph

Mr. Mark C. Pascasio
Division Chief
Expenditure and Integrated Accounts Division
Macroeconomic Accounts Service
(632) 8376-1982
m.pascasio@psa.gov.ph

 

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Ms. Maria Belen B. Pecson
Librarian II
Knowledge Management and Communications Division
(632) 8462-6600 local 839
info@psa.gov.ph