Consumer sentiment turned more optimistic for the next 12 months, results of the Consumer Expectations Survey by the Bangko Sentral ng Pilipinas show.
Consumer sentiment in the country was less pessimistic in the first quarter, as the overall confidence index increased to -15.1 percent from -24 percent in the fourth quarter 2021.
“The higher CI, albeit remaining negative, indicated that the number of households with optimistic views increased, but was still lower than those with pessimistic views,” the BSP said.
Respondents said their improved outlook in the first quarter was brought about by their expectations of the availability of more jobs and permanent employment, additional and high income and effective government policies and programs, such as the easing of quarantine restrictions, availability and rollout of vaccines, and provision of financial assistance.
For the second quarter 2022, consumer sentiment was less positive as the confidence index declined to 6.4 percent from 9.3 percent in the fourth quarter.