. On the domestic front, elevated household debt remains a constraint to purchasing power. In the meantime, domestic political situation also warrants monitoring as the government is preparing for an
investment particular in machinery and equipment, industrial production, manufacturing capacity, and the value of merchandise exports were also better. Rising government expenditure is another significant
from the weakened household income especially in non-farm income together with the tightening of financial institutions credit approvals due to the deteriorations in asset quality. The non-durable goods
household purchasing power remained weak. Despite improvements of both farm and nonfarm income, households’ purchasing power is compressed by the high debt burden and the waning confidence regarding
this Notification: “Fee” means fee for the operation of a licensed business. “Income” means income derived from the operation of a licensed business. “Office” means the Office of the Securities and
” means fee for the operation of a licensed business. “Income” means income derived from the operation of a licensed business. “Office” means the Office of the Securities and Exchange Commission. Clause 3
quarter but may be restrained by vulnerable and highly uncertain household income as well as elevated household debt. These factors are causing customers to be cautious on spending. Moreover, the tourism
arrivals for the first 8 months of 2017 totaling 23.5 million, an increase of 5.4%. Nevertheless, several domestic factors pending recovery still remain 1) Agricultural sector - with farm income showing