Fitch Solutions forecasts a 5.1 percent acceleration on household spending in the Philippines in 2022 from an estimated 3.5 percent this year, in line with the projected economic recovery starting this year. Citing data from the Bangko Sentral ng Pilipinas (BSP), the country risk and industry research unit of Fitch Group, in a report dated October 28, 2021, said consumer confidence index in the country remains low at -19.3 in the third quarter but noted that this has significantly improved since the start of the pandemic. BSP data show that consumer confidence index in the third quarter of 2020 is