UK think tank: PH consumer spending drives recovery, but vax rate remains risk

Strong consumer spending is driving the Philippines' economic recovery, according to UK-based think tank Pantheon Macroeconomics.

However, a relatively lower vaccination rate compared to neighboring countries remains the top risk to further reopening.

Pantheon Macroeconomics senior Asia economist Miguel Chanco cited a 1.4 percent month-on-month increase in October's volume of net sales index as evidence that household spending is back on track.