The Business Confidence Index in the Philippines fell further to -35.8 in April 2026 from -24.3 in the previous month, marking the second consecutive month of decline. The pessimistic sentiment was driven by the US-Iran conflict, which raised concerns that higher inflation could increase firms’ operating costs and erode households’ purchasing power. During the month, sentiment continued to deteriorate regarding financial conditions (-35.3 vs -24.9 in March), order books (-15.6 vs -2.7), and access to credit (-9.9 vs -7.1), while the volume of business activity fell sharply to -15.3 from a 2.2 increase in the prior month. Meanwhile, the business outlook declined at a softer pace (-7.5 vs -17.3), while confidence for the coming year improved (19.5 vs 11.7), supported by expectations of stronger demand, higher sales and income, better economic conditions, and a possible resolution of the Middle East conflict. source: Bangko Sentral ng Pilipinas

Business Confidence in Philippines decreased to -35.80 points in April from -24.30 points in March of 2026. Business Confidence in Philippines averaged 27.18 points from 2001 until 2026, reaching an all time high of 54.90 points in June of 2013 and a record low of -35.80 points in April of 2026. This page provides - Philippines Business Confidence - actual values, historical data, forecast, chart, statistics, economic calendar and news. Philippines Business Confidence - values, historical data and charts - was last updated on June of 2026.

Business Confidence in Philippines decreased to -35.80 points in April from -24.30 points in March of 2026. Business Confidence in Philippines is expected to be 18.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Philippines Business Confidence is projected to trend around 35.00 points in 2027 and 36.00 points in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-04-27 02:10 AM
Business Confidence
Mar -24.3 8.2 25
2026-05-29 08:00 AM
Business Confidence
Apr -35.8 -24.3 -27
2026-06-26 08:00 AM
Business Confidence
May -35.8


Related Last Previous Unit Reference
Business Confidence -35.80 -24.30 points Apr 2026
Capacity Utilization 78.40 78.60 percent Apr 2026
Changes in Inventories -6515.00 -23403.00 PHP Million Mar 2026
Corruption Index 32.00 33.00 Points Dec 2025
Corruption Rank 120.00 114.00 Dec 2025
Industrial Production YoY 14.70 13.10 percent Apr 2026
Total Vehicle Sales 5578.00 6926.00 Units Apr 2026


Philippines Business Confidence
In Philippines, the Business Expectations Survey covers the top 7,000 Corporations listed on the Philippine’s Stock Exchange. The survey measures firms’ expectations on financing conditions, volume of business activity, employment and expansion plans. The index 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
-35.80 -24.30 54.90 -35.80 2001 - 2026 points Monthly

News Stream
Philippines Business Morale Falls Further in April
The Business Confidence Index in the Philippines fell further to -35.8 in April 2026 from -24.3 in the previous month, marking the second consecutive month of decline. The pessimistic sentiment was driven by the US-Iran conflict, which raised concerns that higher inflation could increase firms’ operating costs and erode households’ purchasing power. During the month, sentiment continued to deteriorate regarding financial conditions (-35.3 vs -24.9 in March), order books (-15.6 vs -2.7), and access to credit (-9.9 vs -7.1), while the volume of business activity fell sharply to -15.3 from a 2.2 increase in the prior month. Meanwhile, the business outlook declined at a softer pace (-7.5 vs -17.3), while confidence for the coming year improved (19.5 vs 11.7), supported by expectations of stronger demand, higher sales and income, better economic conditions, and a possible resolution of the Middle East conflict.
2026-05-29
Philippines Business Confidence Turns Negative in March
The Business Confidence Index in the Philippines turned negative at -24.3 in March 2026, reversing from 8.2 in the previous month. The pessimistic sentiment was driven by the ongoing US–Iran conflict, which pushed domestic fuel prices sharply higher. Additionally, firms cited expectations of weaker consumer spending, as elevated fuel costs continued to feed through into broader prices of basic goods and services. During the month, sentiment continued to weaken regarding financial conditions (-24.9 vs -19.2 in February), access to credit (-7.1 vs -0.6), and order books (-2.7 vs -0.1), while it became less positive regarding the volume of business activity (2.2 vs 3.5). Meanwhile, the business outlook declined notably for the next three months (-17.3 vs 37.4), while confidence softened significantly for the coming year (11.7 vs 51.1).
2026-04-27
Philippines Business Confidence Rises in Q4
The Business Confidence Index in the Philippines rose to 29.7 in the fourth quarter of 2025, following a four-year low of 23.2 in the previous three-month period. The improvement was driven by expectations of increased consumer spending during the holiday season. Additionally, firms cited higher firm productivity and operational efficiency, rollout of new products and services, and a favorable inflation environment. During the quarter, sentiment strengthened among retailers (32.2 vs 23.7 in Q3), service providers (39.1 vs 28), and manufacturers (13.6 vs 12.2). Meanwhile, morale deteriorated for constructors (15.5 vs. 31.6). At the same time, the business outlook weakened notably for the next quarter (23.7 vs. 49.5) and the coming year (40.4 vs. 48.1).
2025-12-19