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THE
average Filipino consumer continues to hold a bearish
sentiment even though the number of pessimists is
waning, the Bangko Sentral ng Pilipinas (BSP) said
Thursday.
The
consumer confidence index, which helps the BSP
anticipate consumer activities many months forward,
remained negative but improved to negative 27.1 percent
in the first quarter this year, from negative 33.6
percent at the final quarter last year and negative 33.3
percent a year ago.
The
index is computed as the number of consumers holding
positive outlook less those holding negative
sentiments.
Consumers anticipating higher consumption spending by
the second quarter and over the next 12 months also
increased.
The
consumer confidence index in the second quarter reverted
to positive 1.4 percent from negative levels the
previous quarter and from a year ago.
“Respondents were even more bullish for the next 12
months as the index climbed to 13.4 percent from 5.5
percent in the previous survey and from 0.8 percent in
the first quarter of 2007,” BSP Governor Amando Tetangco
Jr. said.
He said
the more affluent consumers were the most bullish even
though the ranks of the less financially endowed also
reported improving outlooks on both the economy and
their own financial conditions going forward.
The
survey established that business conditions and family
income by the second quarter and over 12 months were
seen to improve, as indicated by higher employment data.
But even
then, most consumers said the increase in price of most
goods should dampen both their economic and financial
conditions.
Consumers in the National Capital Region (NCR) were more
bullish than those outside of it, in part because there
was a higher proportion of respondents from the middle
and high-income brackets in the NCR that tended to be
more optimistic than those in the lower income.
Households receiving overseas remittances tended to
allocate more of their money for food, education,
medical expenses, debt payments and savings, in that
order.
And
their number is growing, the survey found. |
