The Business Confidence Index in the Philippines turned negative at -20.3 in July 2026 from 0.0 in June, as firms grew more concerned about higher oil prices, renewed tensions in the Middle East, and persistent inflation. Current-month indicators weakened, with business activity falling to -0.1 from 8.3 in June, total orders to -0.7 from 5.4, and access to credit to -7.0 from -5.7. Financial conditions also deteriorated to -31.4 from -26.8, while capacity utilization fell to 68.6% from 73.9%. Meanwhile, three-month confidence eased to 3.7 from 18.8, while 12-month confidence declined to 29.4 from 42.4. Firms also lowered expectations for activity and orders, while fewer planned to hire amid softer growth. However, the expansion plans index rose to 20.8 from 18.7, signaling that more firms planned to expand next year. Twelve-month inflation expectations rose to 50.1 from 35.7. source: Bangko Sentral ng Pilipinas

Business Confidence in Philippines decreased to -20.30 points in July from 0 points in June of 2026. Business Confidence in Philippines averaged 25.97 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 September of 2026.

Business Confidence in Philippines decreased to -20.30 points in July from 0 points in June of 2026. Business Confidence in Philippines is expected to be 12.00 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
2026-07-31 08:00 AM
Business Confidence
Jun 0.0 -25.2 -45
2026-09-04 08:00 AM
Business Confidence
Jul -20.3 0.0 2
2026-09-25 08:00 AM
Business Confidence
Aug -20.3 10


Related Last Previous Unit Reference
Business Confidence -20.30 0.00 points Jul 2026
Capacity Utilization 78.80 78.90 percent Jul 2026
Changes in Inventories 38542.00 -6553.00 PHP Million Jun 2026
Corruption Index 32.00 33.00 Points Dec 2025
Corruption Rank 120.00 114.00 Dec 2025
Industrial Production YoY 9.60 13.90 percent Jul 2026
Total Vehicle Sales 7600.00 8061.00 Units Jul 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
-20.30 0.00 54.90 -35.80 2001 - 2026 points Monthly

News Stream
Philippine Business Confidence Turns Pessimistic
The Business Confidence Index in the Philippines turned negative at -20.3 in July 2026 from 0.0 in June, as firms grew more concerned about higher oil prices, renewed tensions in the Middle East, and persistent inflation. Current-month indicators weakened, with business activity falling to -0.1 from 8.3 in June, total orders to -0.7 from 5.4, and access to credit to -7.0 from -5.7. Financial conditions also deteriorated to -31.4 from -26.8, while capacity utilization fell to 68.6% from 73.9%. Meanwhile, three-month confidence eased to 3.7 from 18.8, while 12-month confidence declined to 29.4 from 42.4. Firms also lowered expectations for activity and orders, while fewer planned to hire amid softer growth. However, the expansion plans index rose to 20.8 from 18.7, signaling that more firms planned to expand next year. Twelve-month inflation expectations rose to 50.1 from 35.7.
2026-09-04
Philippines Business Confidence Recovers in June
The Business Confidence Index in the Philippines improved sharply to 0.0 in June 2026 from -25.2 in the previous month. The turnaround was driven by expectations of higher consumer spending with the start of the new academic year, alongside lower oil prices and energy costs. Notable improvements in the volume of business activity (8.3 vs -4.5 in May), total orders booked (5.4 vs -2.2), and access to credit (-5.7 vs -7.3), while average capacity utilization increased (73.9% vs 70.5%). However, firms continued to report weak financial conditions, with the financial condition remaining negative at -26.8 from -25.7 in the previous month. Looking ahead, the three-month business outlook strengthened to 18.8 from 0.6, while one-year confidence rose to 42.4 from 27.8, supported by expectations of stronger consumer demand, easing inflation, improved economic conditions, and a possible resolution of the Middle East conflict.
2026-07-31
Philippines Business Sentiment Less Pessimistic in May
The Business Confidence Index in the Philippines rose to -25.2 in May 2026 from -35.8 in the previous month. The improvement was driven by expectations of stronger consumer spending and corporate earnings, along with lower oil prices and energy costs. During the month, firms were less pessimistic about financial conditions (-25.7 vs -35.5 in April), order books (-2.2 vs -15.6), access to credit (-7.3 vs -9.9), and business activity (-4.5 vs -15.3). Additionally, the three-month business outlook turned positive (0.6 vs -7.5), supported by expectations of stronger growth in the manufacturing, construction, and business process outsourcing sectors, higher public infrastructure spending, and declining oil prices. Confidence for the year ahead improved to 27.8 from 19.5, reflecting expectations of easing inflation and oil price pressures, a possible resolution of the Middle East conflict, and a recovery in investor confidence.
2026-06-26