Family weekend bondings drive spending, DTI says

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    Despite the opening of more sectors and relaxed quarantines, economic activities are slow to pick up and consumer demand remains weak.

    Trade Secretary Ramon Lopez counts on higher family consumption in bringing back the vibrancy of the economy.

    Lopez said he will push in the next meeting of the Inter-agency Task Force (IATF) on the Managing of Emerging Infectious Diseases the possibility of allowing children aged 10 years and above to go out, with their parents, to give the discussion a headstart.

    This as government is monitoring the number of cases of new coronavirus disease 2019 (COVID-19) after the recent holidays as well as the possible spread of its new variant.

    Lopez said even as a lot of sectors of the economy have resumed operations in the past six months, health statistics have not worsened and COVID cases have been controlled because people comply with safety protocols.

    Despite this, business has not gone back to pre-pandemic level even during
    Christmas time because of the existing age restrictions.

    “The logic is almost ranging 30 to 50 percent (of spending in malls and restaurants comes from complete families and kids with parents (which) results in higher consumption,” he said.