The outlook of both business and households for the quarter ahead turned less optimistic as they continue to be worried about high prices of goods and services despite a downtrend of inflation over the past four months. | RonWDomingoINQ /PDI
Meanwhile, the Consumer Expectations Survey covered a random sample of about 5,427 households across the Philippines. It was done last July 3 to July 18 and 98 percent answered.
Aside from high inflation, the respondents’ less optimistic outlook for the next quarter was attributed mainly to expectations of seasonal downturn in production and sales during the rainy season, lower demand for consumer and intermediate goods such as food supplements and plastic products, fewer construction projects, and high interest rates.
Among households, confidence also eased down to 20.5 percent from 22.5 percent in the previous survey.
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