20 Oct 2025 | News & Feature

TFP W43 2025: Year-end surge in consumption

  • Consumer spending is trending upward, supported by factors such as faster fiscal disbursement for social spending and improvements in household income conditions.
  • The household sector appears to have rebuilt its liquidity buffers during the previous period of weak consumption, providing a solid foundation for further spending.
  • The government still has a major role to play in sustaining the ongoing uptrend in household consumption, given the still-weak consumer confidence.