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). source: Bangko Sentral ng Pilipinas

Business Confidence in Philippines increased to 29.70 points in the fourth quarter of 2025 from 23.20 points in the third quarter of 2025. Business Confidence in Philippines averaged 28.81 points from 2001 until 2025, reaching an all time high of 54.90 points in the second quarter of 2013 and a record low of -32.60 points in the fourth quarter of 2001. 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 February of 2026.

Business Confidence in Philippines increased to 29.70 points in the fourth quarter of 2025 from 23.20 points in the third quarter of 2025. Business Confidence in Philippines is expected to be 32.00 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 2026 and 36.00 points in 2027, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-09-26 03:40 AM
Business Confidence
Q3 23.2 28.8 24
2025-12-19 07:00 AM
Business Confidence
Q4 29.7 23.2 32
2026-04-10 08:00 AM
Business Confidence
Q1 29.7 28


Related Last Previous Unit Reference
Business Confidence 29.70 23.20 points Dec 2025
Capacity Utilization 77.50 77.40 percent Dec 2025
Changes in Inventories -35823.25 -21181.02 PHP Million Dec 2025
Corruption Index 32.00 33.00 Points Dec 2025
Corruption Rank 120.00 114.00 Dec 2025
Industrial Production YoY 1.90 -1.00 percent Dec 2025
Total Vehicle Sales 8009.00 7456.00 Units Dec 2025


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
29.70 23.20 54.90 -32.60 2001 - 2025 points Quarterly

News Stream
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
Philippines Business Morale at 4-Year Low
The Business Confidence Index in the Philippines fell to 23.2 in third quarter of 2025, from 28.8 in the previous three-month period. This marked the lowest reading since the third quarter of 2021, dragged down by weaker demand during the "ghost month" and the onset of the rainy and typhoon season. During the quarter, sentiment weakened across all sectors, namely retailers (23.7 vs 31.8 in Q2), constructors (31.6 vs 38.2), manufacturers (12.2 vs 17.9), and service providers (28.0 vs 31.7). Meanwhile, the business outlook improved notably for the next quarter (49.5 vs 39.3), but softened for the coming year (48.1 vs 51.0).
2025-09-26
Philippines Business Morale at Over 2-Year Low
The Business Confidence Index in the Philippines dropped to 28.8 in the second quarter of 2025, from 31.2 in the previous three-month period. This marked the lowest reading since the fourth quarter of 2022, dragged down by concerns over the potential economic effects of a 17% reciprocal tariff on Philippine exports to the US. During the quarter, sentiment weakened among manufacturers (17.9 vs 18.3 in Q1), retailers (31.8 vs 34.1), and service providers (31.7 vs 35.9). Conversely, sentiment strengthened among constructors (38.2 vs 35.8). Meanwhile, the business outlook declined for the next quarter (39.3 vs 45.4) and for the coming year (51.0 vs 56.4).
2025-07-01