Consumer sentiment deteriorates in Q2

PHILIPPINE consumer sentiment remained gloomy in the second quarter due to expectations of higher expenditures, an expected increase in the number of jobless persons as new graduates enter the labor force, and unchecked graft and corruption in government.

Based on the results of the latest Consumer Expectations Survey (CES) of the central bank, overall confidence index (CI) in the second quarter of the year stood at minus 16.2 percent, worsening from minus 10 percent in the first quarter although slightly better than the minus 17.3 percent recorded in the second quarter of 2014.