MANILA, Philippines — Consumer spending will maintain its resilient form amid a new wave of coronavirus infections but the long-term concerns remain, Pantheon Macroeconomics reported on Monday.
In a commentary, the research consultancy firm noted that despite the alarming rise of cases daily, projected to outpace figures during the Delta variant surge last year, sales data in the Philippines showed promise since it withstood several waves of infection in 2021.
“The question for the economy going forward is whether or not it can stomach another surge. The reassuring news from the net sales data is that catch-up momentum appears to be strong enough to ride out new waves of the virus,” said Miguel Chanco, senior Asia economist for Pantheon Macroeconomics.
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