BCA Transaction Indices Show Robust Year-End Consumer Activity

Strong Performance in December 2025

BCA's transaction indices - Intrabel (retail spending) and Intrabiz (business transactions) - recorded significant growth in December 2025. The Intrabel index, which tracks consumer spending, rose by 9.8% year-on-year (YoY), marking a substantial improvement from November 2025's 3.3% YoY growth and outperforming December 2024's 3.8% YoY increase. This surge in consumer spending during the Christmas and New Year period indicates robust final consumption in the economy.

Business Transactions Drive Growth

The Intrabiz index, reflecting business transactions, showed even more impressive growth, surging by 24.3% YoY in December 2025. This represents a significant acceleration from December 2024's 7.4% YoY growth and November 2025's 12.6% YoY increase. The strong performance in both consumer and business transactions suggests a broad-based economic momentum heading into 2025.

Economic Implications

BCA Chief Economist David Sumual highlighted that the increased transaction values during the holiday period reflect growing consumption activity. The significant improvement in both consumer and business transactions indicates positive momentum for the economy, particularly in the final quarter of 2025. This robust performance in year-end spending is expected to have a positive impact on overall economic growth for the year.