Government spending up, consumer spending down

Data from the National Statistical Coordination Board (NSCB) showed that the government final consumption expenditure (GFCE) grew by 4.6 percent to 16.9 percent compared to the 12.3 percent last year, while consumer spending slowed down by 0.5 percent to 6.2 percent compared to the 6.7 percent in the third quarter of 2012.

“GFCE grew by 4.6 percent from 12.3 percent in the previous year on account of increased government expenditure programs implemented by government agencies,” the NSCB said.