Consumer sentiment dips in Q3
MANILA, Philippines - Consumer sentiment dipped slightly for the third quarter of the year, according to the latest Consumer Expectations Survey of the Bangko Sentral ng Pilipinas.
Despite the dip, the BSP said consumer confidence during the quarter was still the second highest since the survey started in 2007.
Respondents attributed the decline in consumer confidence to low income, unemployment and higher household expenditures.
But consumer confidence rose for the fourth quarter, as respondents anticipated the availability of more jobs, increased investments, additional income and Christmas bonuses.
Despite the weaker sentiment, more respondents saw the third quarter as a favorable time to buy big-ticket items such as vehicles and housing.
The consumer expectations survey was conducted from July 1 to 12, with a sample size of 5,763 households.