Consumer confidence improves in 2nd qtr
MANILA, Philippines - Consumer confidence continued to improve in the second quarter, boosted largely by respondents’ favorable outlook on employment, business activity and family income.
Results of the latest Consumer Expectations Survey of the Bangko Sentral ng Pilipinas showed that consumer confidence index for the second quarter stood at -17.3 percent, an improvement from the -18.8 percent in the previous quarter. The index has always been in the negative, which means that while optimists increase, they remain less in number versus pessimists.
“Respondents attributed their more favorable outlook to the availability of jobs as well as increase in the number of employed family members, increasing family income due to higher salary, strong business activity, and better harvest,†Rosabel B. Guerrero, director for BSP’s Department of Economic Statistics, said in a briefing.
Guerrero also attributed the favorable outlook to “stepped-up road infrastructure projects, more investment prospects in the country, and improvement of the peace and order situation.’’
However, consumer sentiment for the next quarter fell to 0 percent from 5.4 percent, while the confidence index for the year ahead slid to 15.9 percent from 19.3 percent.
“According to respondents, their less sanguine outlook stemmed from expectations of lower income due partly to poor harvests and slower business activities during the rainy season which could cause work interruptions,†Guerrero said.
“They also cited as reasons for their less favorable outlook their expectations of higher household expenses and less job opportunities, consistent with their views of higher unemployment over the next 12 months,†she continued.
The survey also showed that the number of households with savings increased to 30.3 percent during the quarter from 28.9 percent in the first quarter.
“Respondents save money for … emergency, health and hospitalization, retirement, education, and business capital and investment such as house and lot,†Guerrero said.
For spending, respondents had a “positive spending outlook†on basic goods and services for the third quarter.
“Across commodity groups, fewer respondents expected higher spending on clothing and footwear, house rent, electricity, fuel, medical care, communication, restaurants and cafes, and personal care and effects,†Guerrero said.
More respondents, however, expect an increase in expenditures on food, water, and education due to the opening of the school year.
The latest survey was conducted from April 1 to 12 and covered 6,027 households, of which 49.1 percent were from the National Capital Region.
Consumer confidence improves in 2nd qtr
Kathleen A. Martin
MANILA, Philippines - Consumer confidence continued to improve in the second quarter, boosted largely by respondents’ favorable outlook on employment, business activity and family income.
Results of the latest Consumer Expectations Survey of the Bangko Sentral ng Pilipinas showed that consumer confidence index for the second quarter stood at -17.3 percent, an improvement from the -18.8 percent in the previous quarter. The index has always been in the negative, which means that while optimists increase, they remain less in number versus pessimists.
“Respondents attributed their more favorable outlook to the availability of jobs as well as increase in the number of employed family members, increasing family income due to higher salary, strong business activity, and better harvest,†Rosabel B. Guerrero, director for BSP’s Department of Economic Statistics, said in a briefing.
Guerrero also attributed the favorable outlook to “stepped-up road infrastructure projects, more investment prospects in the country, and improvement of the peace and order situation.’’
However, consumer sentiment for the next quarter fell to 0 percent from 5.4 percent, while the confidence index for the year ahead slid to 15.9 percent from 19.3 percent.
“According to respondents, their less sanguine outlook stemmed from expectations of lower income due partly to poor harvests and slower business activities during the rainy season which could cause work interruptions,†Guerrero said.
“They also cited as reasons for their less favorable outlook their expectations of higher household expenses and less job opportunities, consistent with their views of higher unemployment over the next 12 months,†she continued.
The survey also showed that the number of households with savings increased to 30.3 percent during the quarter from 28.9 percent in the first quarter.
“Respondents save money for … emergency, health and hospitalization, retirement, education, and business capital and investment such as house and lot,†Guerrero said.
For spending, respondents had a “positive spending outlook†on basic goods and services for the third quarter.
“Across commodity groups, fewer respondents expected higher spending on clothing and footwear, house rent, electricity, fuel, medical care, communication, restaurants and cafes, and personal care and effects,†Guerrero said.
More respondents, however, expect an increase in expenditures on food, water, and education due to the opening of the school year.
The latest survey was conducted from April 1 to 12 and covered 6,027 households, of which 49.1 percent were from the National Capital Region.
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