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Business
Consumer sentiment higher in fourth quarter of this year

Consumer sentiment improved in fourth quarter 2012 as the overall confidence index (CI) climbed to -10.4 percent in the fourth quarter of this year from the -13.3 percent in the third quarter.

Rosabel Guerrero, director of the Department of Economic Statistics of the Bangko Sentral ng Pilipinas (BSP), said on Friday that, “this is the second highest reading since the nationwide survey started in first quarter 2007.”

She noted that the index is computed as the percentage of households that answered in the affirmative less the percentage of households that answered in the negative, with respect to their views on a given indicator.

The higher but still negative CI in the fourth quarter of 2012 means that the number of households with an optimistic outlook increased, but they continued to be outnumbered by those who think otherwise.

The central bank said that respondents cited the following factors for their improved sentiment: more jobs as a result of more working family members; additional income and higher salary; increasing investment inflows; improvements in infrastructure and better governance.

Guerrero said that ”looking ahead, consumer expectations for the next quarter and the year ahead remained positive, with the CIs at 6.3 percent and 16.8 percent, respectively.”

“This indicates that the optimists continued to top the pessimists for the next quarter and the year ahead. Consumers are confident that improvements in the economy and family finances will be carried over to the next 12 months,” she added.

Consumer sentiment is measured across three component indicators: the country’s economic condition; family financial situation and family income.

Consumer confidence on the economic condition of the country improved significantly, with the index reaching -9.6 percent (the second highest reading since first quarter 2007) in the current quarter from -17.4 percent in third quarter 2012, the BSP official said.

Looking ahead, consumer expectations for the next quarter and the year ahead remained positive, with the CIs at 6.3 percent and 16.8 percent, respectively.

The more favorable outlook on the economic condition of the country was largely driven by the sentiment of the low-income group, which recorded the biggest improvement in outlook in fourth quarter 2012 across income groups.

“In terms of family finances, the sentiment across income groups remained steady. Consumers’ views about their family income were also broadly steady for the low-income group but less optimistic for the middle- and high-income groups,” Guerrero said.

Refer http://www.manilatimes.net/index.php/business/top-business-news/37408-consumer-sentiment-higher-in-fourth-quarter-of-this-year

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Consumer sentiment higher in fourth quarter of this year


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