|
CONSUMER confidence nationwide strengthened in the first quarter
after a downturn in the final three months of last year as the
number of respondents looking positively at the economy and their
financial condition increased while those with negative outlook
decreased, the Bangko Sentral ng Pilipinas said.
The central bank said the overall consumer
confidence index, while remaining negative, improved to -27.1
percent, or by 6.5 index points quarter-on-quarter and 6.2 index
points year-on-year.
Consumers nationwide were also bullish about
their expectations for the next quarter and the next 12 months. The
index in the second quarter reversed to positive 1.4 percent from
the negative levels in the previous quarter and last year.
Respondents were even more bullish about the
next 12 months as the index climbed to 13.4 percent from 5.5 percent
in the previous survey and from 0.8 in the first three months of the
year.
The high-income group remained the most
confident among all income groups, BSP said.
The low-income group earning less than P10,000 a
month has been recording consistent improvements in the outlook for
this quarter until next year on the economy and their own financial
conditions.
The consumer confidence in January to March and
in the near term next quarter and next 12 months was borne out of
expectations of better business conditions and additional income for
the family the number of employed household members locally and
overseas increased. The latest employment data for fourth quarter of
2007 showed the employment rate rising at 93.7 percent from 92.2
percent in Q3 2007 and 92.7 percent a year ago. Meanwhile, consumers
cited the increase in the prices of goods as a major concern that
would affect negatively their economic and financial conditions.
-- Chino S. Leyco
|
