Q3 Consumer confidence drops to -26.3%

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Consumer sentiment weakened in the third quarter as families expressed concern over food and basic commodity prices, political controversies, higher household expenses, and uncertainty about employment and income prospects, the Bangko Sentral ng Pilipinas (BSP) said on Friday.

Results of the Consumer Expectations Survey (CES) conducted by the BSP showed overall consumer sentiment declined by 9 percent to -26.3 percent from -17.3 percent recorded for the second quarter. The survey was conducted from July 1 to July 12, and collected responses from 5,948 households nationwide.

The score is the difference between the number of households responding affirmatively to given indicators and the number of households responding negatively; a negative percentage indicates pessimists outnumber optimists.

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