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Philippines 21 Sep 2021 | 9:48 AM

More Philippine households saving, not spending: UK-based think tank

MANILA (Philippine Daily Inquirer/Asia News Network): The harder times wrought by the prolonged Covid-19 pandemic have forced more households — including those receiving cash remittances from overseas Filipino workers (OFWs) — to save instead of splurge, resulting in slower economic recovery due to weak domestic consumption, UK-based think tank Pantheon Macroeconomics said.