OFW households spending less on big-ticket items

OVERSEAS Filipino worker (OFW) households have reduced their expenditures on big-ticket items such as property and motor vehicles amid the peso’s strength, according to a survey by the Philippine central bank. In the latest round of its Consumer Expectations Survey, the Bangko Sentral ng Pilipinas (BSP) said OFW households that used remittances to buy consumer durables fell to 28.9 percent in the fourth quarter from 31 percent in the previous three-month period. Read the rest of this entry »