High prices, lower incomes bring down Pinoys’ consumer, business sentiment

Quick Summary:

HIGH commodity prices and lower incomes have turned the consumer sentiment in the Philippines negative for the first time in 13 quarters, according to the latest data released by the Bangko Sentral ng Pilipinas (BSP).

The BSP also said consumer confidence for the second quarter of 2024 across income groups such as low-income, middle-income, and high-income groups became more pessimistic, which mirrored the national trend.“Consumers are more hesitant about buying big-ticket items in the second quarter of 2024.

The BSP said the consumer index for the second quarter of 2024 across the three component indicators—such as the country’s economic condition, family’s financial situation, and family income—became more negative.

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Article Details

Author / Journalist: Cai U. Ordinario

Category: BusinessStartups

Markets: Philippines

Topics: 2024 Expect Quarter Negative Percent Increase Months Second Inflation Consumer First

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-28 @ 16:09:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 1026 words

Reading Time: 6 minutes read

Sentences: 31 lines

Sentence Length: 34 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 21410795

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