Connect with us

Hi, what are you looking for?


Consumers, companies more upbeat for next year

By Beatrice M. Laforga, Reporter

Consumer sentiment for the last quarter of the year turned less pessimistic, while business confidence improved as lockdowns were eased and companies expected better job and sales prospects, according to the Philippine central bank.

The consumer outlook turned positive for the next quarter and more people and businesses remained optimistic for the next 12 months, the Bangko Sentral ng Pilipinas (BSP) said in a statement on Friday, citing the results of its latest survey.

The consumer confidence index improved slightly to -47.9% in the fourth quarter from -54.5% in the past quarter, signaling Filipinos’ hope for more available jobs and higher income for some family members, Some Filipinos also expected an end to the coronavirus pandemic as vaccines become available.

Business sentiment turned positive this quarter to 10.5% from -5.3% in the third quarter, the BSP said. “The positive reading indicates that respondents with optimistic views increased and outnumbered those with pessimistic views.”

But the reading was still lower than levels before the pandemic, when the business confidence index hit 40.2% in the last quarter of 2019.

The respondents also traced the improved consumer outlook to expectations that state relief programs for affected sectors would continue.

The consumer outlook for the next quarter turned positive at 4.3%, and the optimistic outlook was expected to persist in the next 12 months. The index is seen to settle at 23.6% in the next 12 months compared with the earlier 25.5% expectation.

The outlook on household spending for the next quarter was unchanged at 26.4%, the lowest since the nationwide survey started in 2017, the central bank said.

Meanwhile, the improved confidence among companies was traced to the reopening of more businesses during the so-called new normal, easing restrictions and increased demand during the holiday season.

Companies remained positive for the first quarter of next year, with the confidence index jumping to 37.4% from 16.8% in the previous survey.

“Respondents’ more buoyant outlook for Q1 2021 was associated mainly with expectations of reopening of firms and adapting to the ‘new normal,’” the BSP said. They also expected a pickup in sales as coronavirus vaccines become available, it added.

Business sentiment turned more optimistic for the next 12 months as the confidence index rose to 57.7% from 37.5% in the previous survey.

The employment outlook index for both next quarter and in the coming year also turned positive, indicating that companies were likely to hire more workers.

The central bank interviewed 5,612 households for the consumer expectation survey on Oct. 1-13, while 1,513 companies responded for the survey on Oct. 6 to Nov. 24.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



A Saudi flag flutters atop Saudi Arabia’s consulate in Istanbul, Turkey Oct. 20, 2018. — REUTERS/HUSEYIN ALDEMIR/FILE PHOTO RIYADH — Saudi Arabia’s crown prince...


IN FEB. 2019, Facebook, Inc. set up a test account in India to determine how its own algorithms affect what people see in one...


CHINA’S economy risks slowing faster than investors realize as President Xi Jinping’s push to cut its reliance on real estate and regulate sectors from...


Faced with a high level of competition in an era of streaming services, content providers must stay ahead by developing a strong user experience...


The Philippines remains under a “gray” list of countries under increased monitoring for money laundering and terrorism financing risks, despite some progress in implementing...


A Brewdog promotion which said customers could win “solid gold” beer cans was misleading, the advertising watchdog has found. The Scottish brewer offered shoppers...

You May Also Like


Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...


Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...


As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...


Pfizer Inc on Wednesday raised its 2021 sales forecast for its COVID-19 vaccine by 29% to $33.5 billion, and said it believes people will...

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!