The consumer confidence indicator in the Philippines declined to -14.6 in the fourth quarter of 2022 from -12.9 in the previous three-month period. The latest reading suggested consumers became more pessimistic at the end of the year, due to concerns over the faster increase in the prices of goods and higher household expenses, low income, and fewer available jobs and working family members. Meantime, consumer sentiment for the first quarter of 2023 and the next 12 months turned less upbeat, with the corresponding indicator falling to 9.5 from 13.4 and to 21.7 from 33.4, respectively, due to worries on higher prices of goods, low income, rising household consumption, and fewer employment opportunities. source: Bangko Sentral ng Pilipinas

Consumer Confidence in Philippines averaged -16.66 points from 2007 until 2022, reaching an all time high of 13.10 points in the second quarter of 2017 and a record low of -54.50 points in the third quarter of 2020. This page provides - Philippines Consumer Confidence - actual values, historical data, forecast, chart, statistics, economic calendar and news. Philippines Consumer Confidence - data, historical chart, forecasts and calendar of releases - was last updated on March of 2023.

Consumer Confidence in Philippines is expected to be -14.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Philippines Consumer Confidence is projected to trend around 6.00 points in 2023 and 5.00 points in 2024, according to our econometric models.

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Philippines Consumer Confidence



Calendar GMT Actual Previous Consensus TEForecast
2022-09-23 08:00 AM Q3 -12.9 -5.2 -2
2022-12-16 08:00 AM Q4 -14.6 -12.9 -14
2023-03-31 08:00 AM Q1 -14.6 -10


Related Last Previous Unit Reference
Consumer Confidence -14.60 -12.90 points Dec 2022
Personal Savings 6107100.93 6208378.40 Million PHP Sep 2022
Bank Lending Rate 6.54 6.77 percent Dec 2019
Consumer Credit 555.28 507.44 PHP Billion Dec 2022

Philippines Consumer Confidence
In Philippines, the Consumer Expectations Survey covers over 5,000 Consumers in the Philippines were less pessimistic in the first quarter of 2022, with the confidence index increasing to -15.1 percent from 24.0 percent in the previous three months. The latest reading pointed to the highest figure since the first quarter 2020, due to the availability of more jobs and permanent employment as well as additional and high income, amid easing COVID-19 pandemic and soaring vaccinations. Meanwhile, consumer sentiment for the second quarter 2022 weakened, stemming from concerns about the faster rise in the prices of goods, low to no increase in income, and high unemployment rate. Meantime, consumer sentiment for the next 12 months improved to the highest level in more than four years, as expectations regarding availability of more jobs and high income improved. At the same time, consumer's views on the salary and good governance strengthened. households of which around 50 percent are from the national capital region Metro Manila. The questions address overall conditions of the economy, household finances and household income. The indicator is computed by subtracting the percentage of firms that answer positively from the percentage that answer negatively. The index varies between -100 and 100; a positive value indicates a favorable view, a negative value shows lack of confidence and zero indicates neutrality.
Actual Previous Highest Lowest Dates Unit Frequency
-14.60 -12.90 13.10 -54.50 2007 - 2022 points Quarterly

News Stream
Philippines Q4 Consumer Morale Weakens Further
The consumer confidence indicator in the Philippines declined to -14.6 in the fourth quarter of 2022 from -12.9 in the previous three-month period. The latest reading suggested consumers became more pessimistic at the end of the year, due to concerns over the faster increase in the prices of goods and higher household expenses, low income, and fewer available jobs and working family members. Meantime, consumer sentiment for the first quarter of 2023 and the next 12 months turned less upbeat, with the corresponding indicator falling to 9.5 from 13.4 and to 21.7 from 33.4, respectively, due to worries on higher prices of goods, low income, rising household consumption, and fewer employment opportunities.
2022-12-16
Philippines Q3 Consumer Morale Weakens
Consumers in the Philippines were more pessimistic in the third quarter of 2022, with the confidence index declining to -12.9 percent from -5.2 percent in the previous three months, which was the highest figure since the first quarter 2020. The weaker confidence among consumers was largely due to their concerns over the faster increase in the prices of goods and higher household expenses, low income, and fewer available jobs and working family members. Meanwhile, consumer sentiment for the fourth quarter 2022 and the next 12 months increased to 13.4 percent and 33.4 percent, respectively. The improvement in confidence among consumers is attributed to their expectations of more available jobs, additional income, and good governance. Also, consumer's views on effective government policies and programs; and the provision of pension and financial assistance improved.
2022-09-23
Philippines Consumer Morale Strongest in 2 Years
Consumers in the Philippines were less pessimistic in the second quarter of 2022, with the confidence index increasing to -5.2 percent from -15.1 percent in the previous three months. The latest reading pointed to the highest figure since the first quarter 2020, due to the availability of more jobs and permanent employment amid easing COVID-19 restrictions. Meanwhile, consumer sentiment for the third quarter 2022 and the next 12 months turned more upbeat, as expectations regarding availability of more jobs and high income improved.
2022-07-01