The consumer confidence index in the Philippines decreased marginally to 1.26 in the first quarter of 2020 from 1.31 in the previous period. The central bank explained that the survey was conducted from January 29th through February 10th 2020, when the first cases of coronavirus were recorded in the country but before the government placed the entire island of Luzon under quarantine. Consumers were more optimistic about their family’s financial condition but less confident with the country’s economic conditions compared to the previous quarter. Their outlook on family income remained steady. However, households expressed concerns about the faster increase in prices of goods as well as the impact of the Covid-19 pandemic.
Consumer Confidence in Philippines averaged -14.91 points from 2007 until 2020, reaching an all time high of 13.10 points in the second quarter of 2017 and a record low of -52.80 points in the third quarter of 2008. 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 August of 2020. source: Bangko Sentral ng Pilipinas
Consumer 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. Looking forward, we estimate Consumer Confidence in Philippines to stand at -5.00 in 12 months time. In the long-term, the Philippines Consumer Confidence is projected to trend around -7.00 points in 2021 and 7.00 points in 2022, according to our econometric models.