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The Quarterly CCI studies households’ financial situations. In the 3rd quarter of 2017, the financial situation of households has improved slightly compared to the same period of last year. 14.9 percent of consumers responded that their financial situation have improved last year, while 32.1 percent reported that their financial situation have deteriorated.
Demands for tourism and durable goods such as immovable assets, automobiles and major appliances are very elastic. According to the stylized facts of business cycle, consumer spending on these goods is pro-cyclical and more volatile than GDP.