The business confidence index in the Philippines increased to 35.4 in Q2 of 2022 from 32.9 Q1, due to easing Covid-19 restrictions. The reopening of the economy and uptick in economic activities due to election-related spending also contributed to the stronger sentiment, affecting mood among retailers (36.1 vs 21.4). Meanwhile, confidence weakened among manufacturers (29.2 vs 31.2 in Q1), service providers (39.5 vs 40.5), and constructors (22.6 vs 34.7). In Q3, the confidence deteriorated with the business outlook across all sectors was less bullish, similar to overall business sentiment. Meanwhile, sentiment for the next 12 months was less optimistic with all sectors declining. source: Bangko Sentral ng Pilipinas
Business Confidence in Philippines averaged 28.23 points from 2001 until 2022, 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 July of 2022.
Business Confidence in Philippines is expected to be 35.00 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 38.00 points in 2023, according to our econometric models.