More Pinoy households with savings in Q4 – BSPhome/Business/Top Business/More Pinoy households with savings in Q4 – BSPTHE number of Filipino households with savings increased slightly in the fourth quarter of 2018, data from a nationwide Bangko Sentral ng Pilipinas (BSP) poll showed. Of the 470 included in the survey, the percentage of overseas Filipino worker (OFW) households that used remittances for savings was higher at 35.5 percent from 32.7 percent in the third quarter. “The higher quarter-on-quarter percentage of OFW households that allotted remittances for savings is consistent with the upturn in the percentage of nationwide households with savings and those who could set aside money for savings for the current quarter,” the BSP said. The survey showed that 98.5 percent of the OFW households used the remittances received to purchase food and other needs. The latest CES was conducted from October 1 to 13, 2018 with a sample size of 5,609 households nationwide.

Source: Manila Times December 07, 2018 18:11 UTC