MANILA – The consumer sentiment for the third and fourth quarter of the year improved, while business sentiment remained optimistic.
In a virtual briefing on Friday, BSP Monetary Policy Sub-Sector Officer-in-Charge Redentor Paolo Alegre Jr. said results of the latest Consumer Expectations Survey (CES) and Business Expectations Survey (BES) showed that consumer sentiment for the third quarter improved as the overall confidence index (CI) turned less negative at -15.6 percent from -20.5 percent in the second quarter.
Alegre said the less pessimistic sentiment was attributed to expectations of higher income from wages, remittances, and other sources; additional sources of income; permanent employment and availability of more jobs; and additional working family members.
For the fourth quarter of 2024, Alegre said the consumer sentiment turned optimistic as the CI reverted to 0.7 percent from -0.4 percent in the second quarter.
The consumer confidence for the next 12 months meanwhile, was less optimistic as the CI declined to 9.9 percent from 13.5 percent in the second quarter.
Business expectations
Alegre said the business sentiment remained optimistic in the third quarter as the overall CI went up to 32.9 percent from 32.1 percent.
"So firms said that the increase in demand for certain goods and services such as food and beverage, apparel, education and personal services, bouyed their outlook for the current quarter, as well as easing inflation, the seasonal uptick in business activities due to the start of the new school term and the pre-holiday inventory stocking by retailers," he said.
Alegre said the expansion and improvement of business operations also contributed to the optimistic outlook.
For the fourth quarter, the business confidence turned bullish as the overall CI improved to 56.8 percent from 43.7 percent in the second quarter survey results.
Alegre said that for the next 12 months, business confidence was also upbeat as the CI went up to 58 percent from 56.5 percent in the previous quarter. (PNA)
