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11 June 2010

Consumer outlook up in Philippines

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Manila, June 11 - Consumer confidence index weakened in the second quarter this year from the overall impact of the El Nino weather phenomenon and uncertainties in the employment sector.

The outlook, conducted between April 5 and 16, for the next quarter has turned out to be positive, the Philippine central bank said.

The survey indicated that high and middle-income groups anticipate more favorable economic conditions.

The low-income group registered the biggest improvement in outlook with respect to their family income for the next 12 months at 10 percent, followed by the middle-income group at 22.9 percent.



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