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Discretionary spending expected to rise in 2024

SPENDING priorities in the Asia-Pacific region will likely shift next year to more discretionary items, particularly goods, the Mastercard Economics Institute (MEI) said in a report.The recalibration will allow the manufacturing sector to catch up with services, which outperformed as economies reopened following the Covid-19 pandemic, allowing economies to post higher but below-trend growth.Consumer spending in the region will remain resilient, MEI said, with an easing of monetary policies likely to factor in how households allocate budgets. Economies in Asean (Association of Southeast Asian Nations) and Oceania will enter their third year without pandemic restrictions in 2024, MEI noted. The progressive fulfillment of out-and-about demand should support a rotation of spend back into goods. In the Philippines, consumers continued to spend more on discretionary items compared to essentials as of September this year for both the mass (approximately 66 percent vs. 33 percent) and the a ....

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Cloudy skies expected over most provinces of the island - Breaking News

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Two groups hold executive meetings to set business strategies

Samsung Electronics and LG Electronics are set to discuss business strategies for the coming year in meetings with heads of each business unit and executives, following the completion of end-of-year reshuffles and organizational restructuring, according to the companies, Thursday. ....

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Most popular baby names for 2024: Flower-themed names set to dominate next year

The most popular baby names expected to top new parents’ lists in 2024 have been revealed - and experts have noticed a surprising trend. It’s predicted. ....

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