Back in the days before the Internet, and before there were countless social media economic experts as the genuine kind, I used to regularly monitor the health and wealth of the Philippine economy at the Tejeros Market on Pasong Tirad, Makati. Know more:
Back in the days before the Internet, and before there were countless social media economic experts as well as the genuine kind, I used to regularly monitor the health and wealth of the Philippine economy at the Tejeros Market on Pasong Tirad, Makati.pork dealer had more economic perspective then—and probably still does—than anyone in a skyscraper office in Makati or BGC.
The “newest” economic theory in the past two years is “Revenge”: Revenge Shopping, Revenge Travel, Revenge Buying. It comes from the 1980s Chinese phrase “bàofù xìng xiāofèi.” There are many ways of measuring an economy. However, these are not always able to accurately evaluate economic activity when there has been a shift in consumer habits. For the last six months I have observed —for whatever it is worth—a slow increase in foot traffic at every mall that I regularly visit. In my experience, in 2023 we have gone from “empty” to “back to normal.” But that does not give a complete picture.
Economic observers, if not economists themselves, are developing new and non-traditional ways to measure the economy. Bloomberg uses the “Subdial Watch Index” that tracks prices for the 50 most-traded luxury watches by value on the secondary market. Subdial lists watches from $1,500 to $350,000.Prices for pre-owned watches have fallen by about 26 percent in a year, the Subdial Index shows. Watch buying activity can be used as a barometer of middle-income spending habits.
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