Core Insights - Despite facing macroeconomic and geopolitical risks, consumer spending in the Philippines is expected to continue growing over the next two years, although at a slower pace [1] Group 1: Consumer Spending Forecast - The report predicts that the real household consumption growth rate in the Philippines will reach 5.0% in 2024 and slow down to 4.5% in 2025 [1] - By 2025, the total household consumption is expected to increase to 13.1 trillion pesos, calculated at 2010 prices [1] Group 2: Economic Influences - Inflationary pressures and high debt levels may suppress consumption, but a tight labor market is expected to support residents' purchasing power [1] - The report warns that economic risks in major remittance-sending countries like the US and Europe could impact remittance income, while high household debt and low consumer confidence may also constrain consumption potential [1] Group 3: Future Projections - The inflation rate is expected to decline to 2.2% by 2025, but the peso may depreciate to 58 pesos per US dollar [1] - Consumer spending growth in the Philippines is projected to rebound to 6.0% in 2026, although global risks such as trade protectionism and supply chain disruptions remain uncertain [1]