NSCB - 2nd Quarter 2008 National Accounts - Personal Consumption Expenditure (PCE)

Second Quarter 2008
Gross National Product &
Gross Domestic Product by Expenditure Shares

Consumer spending slackens

On the expenditure side, consumer spending slackened to 3.4 percent in the second quarter of 2008 from 5.6 percent a year ago, succumbing to the effect of high prices. The continued upsurge in compensation of Overseas Filipino Workers (OFWs) kept consumer spending at a positive growth.

Except for expenses on Household Furnishing, which rebounded to 13.5 percent from negative 1.0 percent, registered in 2007. The rest of the expenditure items that recorded slower growths during the quarter were: Transportation and Communication, which grew at a slower growth of 8.0 percent from 9.6 percent; Miscellaneous expenses, from 5.5 percent to 5.3 percent; Food Expenditure, with a share of 52.4 percent of total Personal Consumption Expenditure, slipped to 2.7 percent from 6.1 percent; and; Clothing and footwear, from 4.6 percent to 1.1 percent; Tobacco, which decelerated to 0.8 percent from 4.2 percent.

On the other hand, drop in expenditures were registered in Fuel light and water which skidded to negative 1.8 percent from 6.0 percent growth the previous year and Beverage, down to negative 0.7 percent from 3.2 percent.

PERSONAL CONSUMPTION EXPENDITURE
2nd Quarter 2007 and 2nd Quarter 2008

At Constant 1985 Prices

ITEM	2nd Qtr 2007	2nd Qtr 2008	Growth Rate (%)
PERSONAL CONSUMPTION EXPENDITURE	261,402	270,361	3.4
1. Food	138,034	141,716	2.7
2. Beverages	5,096	5,061	-0.7
3.Tobacco	5,338	5,384	0.8
4. Clothing and footwear	8,317	8,410	1.1
5. Fuel,light and water	11,778	11,571	-1.8
6. Household furnishings	6,809	7,729	13.5
7. Household operations	22,180	22,604	1.9
8. Transportation/comm.	24,469	26,421	8.0
9. Miscellaneous	39,380	41,465	5.3

At Current Prices

ITEM	2nd Qtr 2007	2nd Qtr 2008	Growth Rate (%)
PERSONAL CONSUMPTION EXPENDITURE	1,125,854	1,279,950	13.7
1. Food	503,917	592,574	17.6
2. Beverages	18,234	19,032	4.4
3. Tobacco	17,494	18,259	4.4
4. Clothing and footwear	24,718	26,009	5.2
5. Fuel,light and water	64,448	68,352	6.1
6. Household furnishings	15,669	18,174	16.0
7. Household operations	113,074	119,589	5.8
8. Transportation/comm.	126,485	149,357	18.1
9. Miscellaneous	241,814	268,603	11.1

PERSONAL CONSUMPTION EXPENDITURE
Annual 2007 and 2006
AT CURRENT AND CONSTANT 1985 PRICES, IN MILLION PESOS

INDUSTRY/ INDUSTRY GROUP	AT CURRENT PRICES			AT CONSTANT PRICES
INDUSTRY/ INDUSTRY GROUP	2006	2007	Growth Rate (%)	2006	2007	Growth Rate (%)
PERSONAL CONSUMPTION EXPENDITURE	4,229,502	4,611,884	9.0	999,728	1,058,176	5.8
1. Food	1,892,241	2,077,723	9.8	536,522	570,197	6.3
2. Beverages	71,114	76,367	7.4	20,124	20,877	3.7
3. Tobacco	66,678	70,317	5.5	19,946	20,574	3.1
4. Clothing and footwear	88,376	94,950	7.4	30,432	31,975	5.1
5. Fuel,light and water	207,906	224,459	8.0	38,267	40,013	4.6
6. Household furnishings	59,026	58,849	-0.3	25,610	25,241	-1.4
7. Household operations	424,719	441,872	4.0	85,482	87,321	2.2
8. Transportation/comm.	468,933	517,215	10.3	90,642	99,456	9.7
9. Miscellaneous	950,509	1,050,132	10.5	152,701	162,522	6.4

Source: National Statistical Coordination Board (NSCB)

Posted 28 August 2008