sobering news on the grapevine: local consumer mall spending on the wane
There are signs that local Philippine consumer spending may be going down. Less Traffic I'm sure I'm not the only one who noticed that traffic in our Metro's streets has been behaving nicely. Unfortunately, people traffic in our shopping malls have been reportedly low also. Lower spending in malls I heard that credit card usage was not rising sharply alongside metro manila mall sale periods. A rise in credit card usage is normal during periods wherein malls have big sales. People have been spending less money lately, at least as far as malls are concerned. Fearful metropolis Could this be the beginning of a trend where people start tightening their belts? Or are we just seeing a blip caused by the local political chaos? Not too long ago, an explosion in Glorietta was largely believed to be a tactic of the administration to divert the public's attention from attacks against it. Whether this be true or not, people are fearful that it may happen again. Whether the fear is ...