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. source: Bangko Sentral ng Pilipinas
Consumer Confidence in Philippines averaged -16.75 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 November of 2022.
Consumer Confidence in Philippines is expected to be 7.00 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 7.00 points in 2023, according to our econometric models.