Philippine economy
Business confidence improved to 40.5% in the April-June period, while consumer sentiment was broadly steady at -1.3%, the BSP said.
AFP
Biz confidence up, consumer sentiment slightly down in Q2
(Philstar.com) - June 25, 2019 - 4:04pm

MANILA, Philippines — Business confidence rose in the second quarter amid stronger demand while consumer sentiment slightly weakened on expectations of higher prices, the Bangko Sentral ng Pilipinas reported Tuesday.

Business confidence improved to 40.5% in the April-June period, while consumer sentiment was "broadly steady" at -1.3%, the BSP said.

“More upbeat business outlook was due to usual uptick in demand during summer, election-related spending, sustained increase in orders and projects leading to higher volume of production, expansion of biz and new product lines, roll-out of government infrastructure projects,” the central bank said.

Meanwhile, the tepid consumer outlook was “due to expectations of higher prices of goods, expenses, poor health and high medical expenses as well as water crisis,” it added.

The BSP held off further policy easing this month and kept its key rate unchanged after inflation accelerated to 3.2% in May. Year-to-date, inflation averaged 3.6%, still within the BSP’s 2%-4% annual target.

READ: In prudent move, BSP keeps interest rates unchanged

— Ian Nicolas Cigaral

PHILIPPINE ECONOMY
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