The consumer confidence index in the Philippines turned pessimistic for the third quarter 2020, as the overall confidence index declined to a record low of -54.5 since the series began in Q1 2007. The central bank explained that the survey was conducted during the period 1-14 July 2020, when the country still struggling to combat the pandemic. Consumer sentiment on the three indicators turned pessimistic compared with Q1 2020 survey. The consumer confidence on the family’s financial situation and family income registered all-time lows since Q1 2007. For Q4, consumer sentiment across indicators weakened compared with the outturn in the previous survey round. Meanwhile, consumer confidence for the next 12 months across component indicators was more favorable compared with the first quarter 2020, due to expectations of an end in the COVID-19 pandemic. In Q2, consumer confidence could not be computed due to the implementation of community quarantine nationwide from 16 March to 31 May 2020.
Consumer Confidence in Philippines averaged -15.65 points from 2007 until 2020, 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 October of 2020. source: Bangko Sentral ng Pilipinas
Consumer Confidence in Philippines is expected to be -11.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Consumer Confidence in Philippines to stand at 5.00 in 12 months time. In the long-term, the Philippines Consumer Confidence is projected to trend around 7.00 points in 2021, according to our econometric models.