• Consumer confidence hits all-time high

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    Source: BSP Consumer Expectations Survey

    Filipino households continued to show strong optimism for the fourth quarter of 2016 on a generally positive perception of the overall condition of the economy, household finances and household income, the latest central bank survey showed on Friday.

    The confidence index (CI) – computed as the percentage of those that answered in the affirmative less the percentage of those that answered otherwise – rose to an all-time high of 9.2 percent for the fourth quarter of 2016, up from the 2.5 percent recorded in the third quarter, and the negative 8.1 percent in the fourth quarter of 2015, results of the latest Consumer Expectations Survey (CES) by the Bangko Sentral ng Pilipinas (BSP) showed.

    The index measures the average direction of change in three indicators – overall condition of the economy, household finances, and household income. A positive CI indicates a favorable view with regard to a given indicator, except for inflation, interest rates, unemployment and change in prices, where a positive CI indicates the opposite.

    “This is the second consecutive quarter that consumer confidence registered a positive reading, indicating that the number of households with optimistic views increased and outnumbered those with pessimistic views,” the central bank noted. MAYVELINE U CARABALLO

    MC/NT

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