Philippine consumers most optimistic in region

Manila (Philippine Daily Inquirer/ANN) - Filipinos were the most optimistic consumers in Southeast Asia and the second most optimistic in the world, defying a broad global decline in confidence during the fourth quarter of 2012, according to an international polling firm.

Market research specialist Nielsen said Tuesday that Philippine consumer confidence stood at an index of 119 in the final quarter of last year, representing a one-point increase from the previous quarter.

More importantly, across the 58 countries Nielsen measured for the period, confidence declined in 33 countries, remained flat in six countries and increased in 19 countries from the prior quarter.

"While consumers around the world struggled with increasing economic concerns, consumers in the Philippines continue to have a positive outlook," Nielsen Philippines managing director Stuart Jamieson said. "This optimism can be attributed to the strong performance of the economy in 2012, which was driven by the real estate, construction, manufacturing, services, and trade sectors."

According to the survey results, confidence fell in eight of 14 Asia-Pacific markets during the fourth quarter of 2012 compared to the previous quarter, with four-point declines in Hong Kong and Taiwan. Nonetheless, the region reported the highest consumer confidence scores overall.

India topped the global list with an index of 121, an increase of two points from the last quarter, followed by the Philippines with 119 and Indonesia, which declined two points at 117.

China increased two index points to a score of 108, while Thailand (115) and Malaysia (103) also scored above the baseline of 100.

The poll-dubbed the Nielsen Global Survey of Consumer Confidence and Spending Intentions-was established in 2005 and measures consumer confidence, major concerns and spending intentions among more than 29,000 respondents with Internet access in 58 countries.

Consumer confidence levels above and below a baseline of 100 indicated degrees of optimism and pessimism.

In the latest round of the survey, conducted between Nov. 10 and Nov. 27, 2012, consumer confidence rose in 33 per cent of global markets measured by Nielsen, compared to 52 per cent in the previous quarter.

Filipino respondents' optimism for local job prospects was also among the world's highest, up four points from the third quarter of 2012 to 76 per cent of respondents who claimed that employment opportunities would be "good" or "excellent" over the next 12 months.

Confidence in personal finances stood at 77 per cent, down one point from the third quarter of 2012.

Fifty-one per cent of Philippine respondents said it was a good time to buy things they wanted and needed over the next 12 months. This was an increase of five points from the previous quarter's result and the highest confidence level registered for 2012.

Saving spare cash remained a priority among 65 per cent of Philippine respondents, but declined two percentage points from the third quarter's level. Twenty-one per cent of the respondents said they invested in shares of stock or mutual funds, an increase of two points.

Purchases of new technology products increased by one point to 35 per cent, while purchases of new clothes increased by two points to 34 per cent. Paying off credit cards and debt declined one point to 27 per cent. Spending intentions for holidays or vacations increased by one point to 28 per cent, while out-of-home entertainment increased 5 points to 18 per cent.

Half of Philippine respondents described their economic state as being in a "recession" during the fourth quarter, representing an improvement from 56 per cent the previous quarter and 59 per cent in the same period in 2011.

Loading...

Editor’s note:Yahoo Philippines encourages responsible comments that add dimension to the discussion. No bashing or hate speech, please. You can express your opinion without slamming others or making derogatory remarks.

  • First China air force drills in 'far offshore' Pacific
    First China air force drills in 'far offshore' Pacific

    China's air force has carried out its first ever military drill over the western Pacific Ocean, state media said, highlighting Beijing's growing military reach. Several aircraft from China's People's Liberation Army (PLA) on Monday flew over the ocean via the Bashi Channel, which runs between Taiwan and the Philippines, the official Xinhua news agency said. "This is the first time that the PLA Air Force conducted such drills in an airspace far offshore from Chinese coastlines," Xinhua cited …

  • Shorter hours for rail lines tomorrow
    Shorter hours for rail lines tomorrow

    The Metro Rail Transit (MRT), Light Rail Transit (LRT) and the Philippine National Railways (PNR) will have shorter hours tomorrow for the replacement of defective railroad tracks during the Holy Week. …

  • Noy increases allowances for cops, soldiers
    Noy increases allowances for cops, soldiers

    President Aquino has signed a joint congressional resolution raising the daily subsistence allowance for both members of the Armed Forces of the Philippines (AFP) and the Philippine National Police (PNP). Presidential spokesman Edwin Lacierda said Aquino signed last March 27 the merged Joint Resolution 2 of the Senate and Joint Resolution 26 of the House of Representatives. Speaking to reporters, Lacierda yesterday said the daily allowances of police officers and soldiers were raised from P90 …

  • Oil firms raise gas prices today
    Oil firms raise gas prices today

    This year’s Holy Week break will be accompanied by an increase in local pump prices after oil companies announced yesterday a P1.10 per liter hike for gasoline and P0.60 per liter for diesel effective today. “Phoenix Petroleum Philippines will increase the prices of gasoline by P1.10 per liter and diesel by P0.60 per liter effective 6 a.m. of March 31, 2015 to reflect the movements in the prices of refined petroleum products in the international market,” said Phoenix Petroleum, an independent …

  • DFA denies dropping Phl claim to Sabah
    DFA denies dropping Phl claim to Sabah

    The Philippines has never offered to drop its Sabah claim in exchange for Malaysia’s support for Manila’s arbitration case against China over the West Philippine Sea issue, the Department of Foreign Affairs (DFA) said yesterday. “In the context of our friendly bilateral relations, our two countries have been for years exchanging ways on how to address the issue of the extended continental shelf (ECS) in the South China Sea,” Foreign Affairs spokesman Charles Jose said in explaining the DFA’s …

  • Pagcor remits record high P5 B to national treasury
    Pagcor remits record high P5 B to national treasury

    The Philippine Amusement and Gaming Corp. (Pagcor) has remitted P5 billion in cash dividends to the National Treasury, fully settling all its arrears incurred in the last several years. Pagcor chairman and chief executive officer Cristino Naguiat Jr. said with this year’s remittance, the state-owned gaming firm has fully settled all remaining arrears in cash dividends that were incurred by the previous administration since 2005. Pagcor’s cash dividends to the National Treasury under its …

  • Maysak moves closer to Phl
    Maysak moves closer to Phl

    The typhoon with international name Maysak slightly accelerated as it moved closer to the Philippines yesterday, threatening to dump rains over eastern Luzon this weekend, the state weather bureau said. Rene Paciente, senior weather forecaster of the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA), said Maysak was spotted at 2,175 kilometers east of Mindanao as of 1 p.m. yesterday. Paciente said based on their latest forecast, Maysak is likely to affect …

  • Phl gets P2-B climate projects from Germany
    Phl gets P2-B climate projects from Germany

    The Philippines is getting 41 million euros or around P2 billion from the International Climate Initiative (ICI) of Germany that will fund 10 bilateral projects to address the impact of climate change. Climate Change Commission (CCC) vice chairman Lucille Sering yesterday met with Norbert Gorissen – head of the International Climate Finance of the German Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety – to discuss the projects, some of which will be …

POLL

Should Aquino be held accountable over the Mamasapano operations?

Loading...
Poll Choice Options