MANILA: Perched on a flowerbox at a busy intersection in the Philippine capital, Irna Lapriza's eyes jump from one car to the next, her fingers flying across manual tally counters as she logs each passing vehicle.
KUALA LUMPUR: BMI , a unit of Fitch Solutions, has forecast household spending to grow by 5 per cent year-on-year in 2025, in real terms, to a value of RM952.6 billion.
"Household spending growth will be slower, relative to 2024, although we note that this growth remains robust as economic growth persists and consumption levels normalise,” said BMI in a report today. Referring to the latest retail sales, it said in August 2024, retail sales came in at 5.9 per cent year-on-year.
Most markets have now reached terminal interest rates, with many central banks expected to start loosening rates over 2025. While interest rates will not reach the previous historical lows of the last decade, easing monetary policy will alleviate some debt servicing cost pressures."We highlight that the rapid unwinding of this could pose a risk to domestic demand. At its last estimate, Bank Negara Malaysia put household debt at 68.5 per cent of GDP in Q3 2023.
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