Philippines Consumer Mood Highest in 3 Quarters

The consumer confidence indicator in the Philippines increased to -11.1 in the fourth quarter of 2024, from -15.6 in the previous quarter, marking the highest reading since the first quarter.

The less pessimistic sentiment among consumers was attributed to expectations of higher and additional sources of income, more working family members, and more available jobs and permanent employment.

On the component indicators, views were less pessimistic about the country’s economic condition (-24.2 vs -30.7 in Q3), family financial situation (-9.0 vs -11.2), and family income (-0.1 vs -4.7).

The consumer outlook also improved for the next quarter and the next 12 months, supported by expectations of higher income, additional sources of income, and more available jobs.