ABS-CBN News, Aug 02 2016
MANILA – Filipino consumers are the most optimistic in the world, an online consumer survey showed.
Results of the Nielsen Global Survey of Consumer Confidence and Spending Intentions showed that Filipinos posted the highest consumer confidence index score among consumers from around the world.
Filipino consumers scored 132 in the index, posting the biggest quarter-on-quarter increase among respondent countries.
The Philippines topped India (128) and Indonesia (128).
The optimism of Filipino consumers was driven by the country’s economic growth in the first quarter of the year, Nielsen Philippines managing director Stuart Jamieson said.
“Confidence in the Philippines is at an all-time high, and with a 6.9 percent [gross domestic product] growth rate in the first quarter, it’s one of the fastest-growing economies in Asia,” Jamieson said.
“The Philippine economy relies heavily upon consumption, and with sales of consumer goods growing rapidly at a 7.1 percent rate in the year ending May 2016, consumer spending remains robust,” he added.
The consumer confidence index has a baseline of 100 that indicate degrees of optimism and pessimism. The online survey was conducted from May 9 to 27