The Philippine Chamber of Commerce and Industry (PCCI) hopes that sustained economic activity will be driven by strong consumer spending and renewed business confidence this Holiday Season.
“As the Christmas season approaches, the Philippine Chamber of Commerce and Industry (PCCI) remains optimistic about sustained economic activity driven by strong consumer spending and renewed business confidence,” the PCCI said.
The country’s largest business organization disclosed that the holiday season has long been a key period for Philippine businesses, traditionally marked by a surge in shopping, dining, and festive activity.
“This year, PCCI anticipates that consumer spending may remain steady, offering meaningful opportunities for businesses, particularly MSMEs, to engage customers and boost sales as the year ends,” the group stated.
Subsequently, the group said they recognize potential risks that could temper growth.
Recent typhoons, including Typhoon Uwan, caused damage in several regions, prompting households and businesses to adjust their spending away from typical holiday purchases.
Combined with current political challenges, constraints in public spending, and global economic uncertainties, these factors may slow consumer activity.
“Despite these challenges, PCCI remains confident that the 2025 Christmas season will provide meaningful uplift to local enterprises, particularly MSMEs, which rely heavily on increasing year-end demand,” it said.
Moreover, the PCCI encourages businesses to make use of digital platforms, ensure stable and reliable operations, and uphold quality service to fully maximize the holiday surge.
“The organization is hopeful that the Christmas season will not only uplift Filipino communities but also reinforce the momentum needed to usher in a stronger economic performance in the coming year,” the PCCI disclosed.
On Tuesday, former Finance Secretary, now Executive Secretary Ralph Recto, lowered the growth forecast for as low as 4.7 percent this year, falling short of the government’s official target range of 5.5 to 6.5 percent, signaling a weaker-than-expected economic performance. (RAFFY AYENG)