PHL consumer confidence one of highest in world – Nielsen
The Philippines is one of
the most optimistic countries when it comes to consumer confidence, said a new
survey released by international research firm Nielsen on Tuesday.
Nielsen's Fourth Quarter Global Survey of Consumer Confidence and Spending Intentions gave the Philippines a score of 119 for the last quarter of 2012, one point higher than its score in the third quarter.
The total ranks the Philippines second only to India in the global tally, with the latter scoring 121 to lead the pack for the second straight quarter.
The survey, which was conducted from November 10 to 27, 2012, tallied the online responses of 29,000 respondents from 58 countries. The survey's baseline is 100; countries scoring below that is seen as having a "pessimistic" outlook when it comes to consumer confidence.
Only 10 countries of the 58 registered an "optimistic" outlook; after India and the Philippines, the top 10 is rounded out by Indonesia (117), Thailand (115), the United Arab Emirates (113), Saudi Arabia (112), Brazil (111), China (108), Malaysia (103), and Norway (102).
The 10 countries with the lowest scores in consumer confidence are Bulgaria (61), Japan (59), Slovakia (57), France (52), Spain (46), Croatia (42), Italy (39), South Korea and Portugal (tied at 38), Hungary (37) and Greece (35).
“While consumers around the world struggled with increasing economic concerns, consumers in the Philippines continue to have a positive outlook. This optimism can be attributed to the strong performance of the economy in 2012 which was driven by real estate, construction, manufacturing, services, and trade sectors,” said Nielsen Philippines managing director Stuart Jamieson in a statement.
According to the study, in the fourth quarter of 2012 Filipinos felt confident about:
- local job prospects: 76 percent are optimistic about job prospects in 2013. The rate is four points higher than the rate in the previous quarter, and is one of the highest in the world; and
- personal finances: 77 percent feel confident about their personal finances, a one-percent drop quarter-on-quarter. 2013 will be a good time to buy products, said 51 percent.
Beefing up their savings was a priority for 65 percent of the respondents, but the rate is two points off from the percentage recorded in the third quarter.
Filipinos' top concern is job security, followed by work/life balance, health, the economy, parents' welfare and happiness, and increasing utility bills.
The top global concern is the economy.
Optimism dropped in eight of 14 Asia-Pacific economies on the survey — a sign of "an increasingly polarized Asia-Pacific region," said Cambridge Group chief economist Venkatesh Bala, that divides the region into high-population economies with robust domestic consumption and developed markets that are more export-dependent that are therefore more exposed to volatile international fluctuations.
Global consumer confidence in the fourth quarter of 2012 fell slightly to 91 from 92 in the third quarter. — BM, GMA News
Nielsen's Fourth Quarter Global Survey of Consumer Confidence and Spending Intentions gave the Philippines a score of 119 for the last quarter of 2012, one point higher than its score in the third quarter.
The total ranks the Philippines second only to India in the global tally, with the latter scoring 121 to lead the pack for the second straight quarter.
The survey, which was conducted from November 10 to 27, 2012, tallied the online responses of 29,000 respondents from 58 countries. The survey's baseline is 100; countries scoring below that is seen as having a "pessimistic" outlook when it comes to consumer confidence.
Only 10 countries of the 58 registered an "optimistic" outlook; after India and the Philippines, the top 10 is rounded out by Indonesia (117), Thailand (115), the United Arab Emirates (113), Saudi Arabia (112), Brazil (111), China (108), Malaysia (103), and Norway (102).
The 10 countries with the lowest scores in consumer confidence are Bulgaria (61), Japan (59), Slovakia (57), France (52), Spain (46), Croatia (42), Italy (39), South Korea and Portugal (tied at 38), Hungary (37) and Greece (35).
“While consumers around the world struggled with increasing economic concerns, consumers in the Philippines continue to have a positive outlook. This optimism can be attributed to the strong performance of the economy in 2012 which was driven by real estate, construction, manufacturing, services, and trade sectors,” said Nielsen Philippines managing director Stuart Jamieson in a statement.
According to the study, in the fourth quarter of 2012 Filipinos felt confident about:
- local job prospects: 76 percent are optimistic about job prospects in 2013. The rate is four points higher than the rate in the previous quarter, and is one of the highest in the world; and
- personal finances: 77 percent feel confident about their personal finances, a one-percent drop quarter-on-quarter. 2013 will be a good time to buy products, said 51 percent.
Beefing up their savings was a priority for 65 percent of the respondents, but the rate is two points off from the percentage recorded in the third quarter.
Filipinos' top concern is job security, followed by work/life balance, health, the economy, parents' welfare and happiness, and increasing utility bills.
The top global concern is the economy.
Optimism dropped in eight of 14 Asia-Pacific economies on the survey — a sign of "an increasingly polarized Asia-Pacific region," said Cambridge Group chief economist Venkatesh Bala, that divides the region into high-population economies with robust domestic consumption and developed markets that are more export-dependent that are therefore more exposed to volatile international fluctuations.
Global consumer confidence in the fourth quarter of 2012 fell slightly to 91 from 92 in the third quarter. — BM, GMA News
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