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.

  • Sy moves up, Villar enters Forbes list of billionaires
    Sy moves up, Villar enters Forbes list of billionaires

    Eleven Filipinos are included in Forbes’ 2015 list of richest people in the world. Filipino-Chinese tycoon Henry Sy Sr. continues to be the wealthiest man in the Philippines. The 90-year-old SM supermalls, banking and property tycoon ranked 73rd among the world’s richest with an increased net worth of $14.2 billion from $11.4 billion last year. Sy’s net worth was attributed to the continued growth of his SM Investments Corp. and his more recent venture, the City of Dreams Manila resort and …

  • US billionaire says WWII Japanese ship found in Philippines
    US billionaire says WWII Japanese ship found in Philippines

    Microsoft co-founder Paul Allen said Wednesday he had found one of Japan's biggest and most famous battleships on a Philippine seabed, some 70 years after American forces sank it during World War II. Excited historians likened the discovery, if verified, to finding the Titanic, as they hailed the American billionaire for his high-tech mission that apparently succeeded after so many failed search attempts by others. Allen posted photos and video online of parts of what he said was the …

  • Jolo apologizes to Bong in visit
    Jolo apologizes to Bong in visit

    Cavite Vice Gov. Jolo Revilla wept and embraced his father as he apologized for the “accidental” shooting incident in their Ayala Alabang residence, the family’s spokesman said yesterday. Lawyer Raymund Fortun came out of the private room at the Asian Hospital and Medical Center in Muntinlupa City to speak to reporters, who were barred from entering the hospital compound during the visit of Sen. Ramon “Bong” Revilla Jr. …

  • US ambassador slashed and bloodied in Seoul attack
    US ambassador slashed and bloodied in Seoul attack

    The US ambassador to South Korea, Mark Lippert, was slashed on his face and arm in Seoul on Thursday by a blade-wielding assailant opposed to ongoing US-Korean military drills. The United States condemned the "act of violence" which left the ambassador bleeding profusely as he was rushed to hospital, and said that President Barack Obama had spoken with him. Witnesses described how a man with a blade concealed in his right hand had lunged across a table at Lippert at a breakfast function at …

  • World's oldest person wonders about secret to longevity too
    World's oldest person wonders about secret to longevity too

    TOKYO (AP) — The world's oldest person says 117 years doesn't seem like such a long time. …

  • Australian drug smugglers being taken to Indonesian island for execution - media
    Australian drug smugglers being taken to Indonesian island for execution - media

    By Jane Wardell and Beawiharta SYDNEY/DENPASAR, Indonesia (Reuters) - Two convicted Australian drug smugglers were removed from a prison in Bali on Wednesday to be taken to an Indonesian island where they will be shot by firing squad, Australian media reported. The planned executions of Myuran Sukumaran, 33, and Andrew Chan, 31, have ratcheted up diplomatic tensions amid repeated pleas of mercy for the pair from Australia and thrown a spotlight on Indonesia's increasing use of the death …

  • Pacquiao big hit so far in Vegas sports books vs Mayweather

    LAS VEGAS (AP) — Manny Pacquiao has always believed he can do what 47 other fighters before him have failed to do — beat Floyd Mayweather Jr. in the ring. …

  • Another source of SAF execution video identified
    Another source of SAF execution video identified

    The National Bureau of Investigation (NBI) is still tracing the source of the video showing one of the wounded police commandos being finished off by Muslim rebels during the encounter in Mamasapano, Maguindanao last Jan. 25. A source from the Department of Justice (DOJ) said they have identified two persons who first uploaded the video that went viral over social networking sites. The supposed source of the video was elusive and claimed that somebody just placed it on an external drive. The …

POLL

Should Aquino be held accountable over the Mamasapano operations?

Loading...
Poll Choice Options