The consumer confidence indicator in the Philippines declined to -14.6 in the fourth quarter of 2022 from -12.9 in the previous three-month period. The latest reading suggested consumers became more pessimistic at the end of the year, due to concerns over the faster increase in the prices of goods and higher household expenses, low income, and fewer available jobs and working family members. Meantime, consumer sentiment for the first quarter of 2023 and the next 12 months turned less upbeat, with the corresponding indicator falling to 9.5 from 13.4 and to 21.7 from 33.4, respectively, due to worries on higher prices of goods, low income, rising household consumption, and fewer employment opportunities. source: Bangko Sentral ng Pilipinas
Consumer Confidence in Philippines averaged -16.66 points from 2007 until 2022, reaching an all time high of 13.10 points in the second quarter of 2017 and a record low of -54.50 points in the third quarter of 2020. 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 February of 2023.
Consumer Confidence in Philippines is expected to be -14.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Philippines Consumer Confidence is projected to trend around 6.00 points in 2023 and 5.00 points in 2024, according to our econometric models.