The consumer confidence index in the Philippines fell to -1.3 in the second quarter of 2019 from -0.5 in the previous period, mainly due to expectations of higher prices of goods, household expenses, poor health and high medical expenses, as well as Metro Manila’s water crisis. The negative sentiment was tempered by expectations of improved law and order, additional income, availability of more jobs, good governance, and additional working family members amid the increase in the number of students which graduate in the second quarter. Consumer Confidence in Philippines averaged -15.95 Index Points from 2007 until 2019, reaching an all time high of 13.10 Index Points in the second quarter of 2017 and a record low of -52.80 Index Points in the third quarter of 2008.
Consumer Confidence in Philippines is expected to be 3.40 Index 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 6.00 in 12 months time. In the long-term, the Philippines Consumer Confidence is projected to trend around 7.00 Index Points in 2020, according to our econometric models.