Pinoy consumer confidence at bullish levels — Bangko Sentral

(Updated 5:38 p.m.) Filipino households see the economy improved markedly this quarter, their optimism at its best since 2007, a Bangko Sentral ng Pilipinas survey found.

 

A ranking central bank official noted bullish consumer sentiment can help sustain economic gains. 

 

In its second quarter consumer expectations poll released Friday, the central bank said the household confidence index (CI) moved to -5.7 percent in the second quarter from -11.2 percent in the first quarter. 

A negative CI means that the pessimists outnumbered optimists. 
 

"This is the most bullish Filipinos have been since the survey started six years ago in the first quarter of 2007," Bangko Sentral Assistant Governor Ma. Cyd Tuaño Amador told reporters at a press briefing.  

 

Amador said bullish sentiment points to sustained economic growth in the second quarter. 

 

"This should provide grounds that the economy will remain at a broadly steady growth path," she said, noting the economy was buoyed by consumer spending. 

 

Growth in the second quarter will be at "a respectable pace similar to the first quarter," Amador said, referring to the gross domestic product which registered a stellar 7.8 percent growth, the fastest in Asia.