Confidence Index (CI) of consumers from all walks of life improved significantly in the third quarter of 2016 to 2.5 percent, upon the assumption of the Duterte administration.
This is the first time the index ended its positive territory since the Bangko Sentral ng Pilipinas (BSP) conducted the survey nationwide in 2007.
The survey was conducted from July 1-12, 2016, within the first two weeks of the Duterte administration.
The results of the Consumer Expectations Survey (CES) for the third quarter this year showed that over-all outlook made a turn around from the 6.4 percent in the previous quarter and year-ago's -11.6 percent.
The highest quarter-on-quarter change in over-all outlook was registered by those from the low-income group even as the index remains in negative. Low income group index for the third quarter this year stood at -5.5 percent as against the -17.2 percent in the second quarter, a jump of 11.7 percentage points.
Those from middle-income group registered an 8.1 percentage points increase to 10.3 percent from quarter-ago's 2.2 percent.
A 7.2 percentage points increase was posted for the high-income group after the index improved to 25.4 percent from 18.2 percent in the previous quarter.
These improvements are results of the country's peace and order situation, availability of more jobs, stable commodity prices, expected increase in salaries, effective government policies, assumption into office of the Duterte administration, and the government's aid programs such as the Pantawid Pamilya Pilipino Programs (4Ps).
According to BPS Deputy Governor Diwa Guinigundo, the issue about the President's rhetorics "is something that in fact market players find amusing."
"But what I think is more important is the substance of what he's saying. There are different ways of saying things but what is important to me is the substance," he said.
The central bank official also noted that as long as the economy is doing well, "it's expected to continue doing well given the 10-Point program of the President."
Source: UPDATE PH
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