Elevated inflation and peso depreciation, among others, dampened sentiments of both consumers and businesses in the last quarter of the year.
ELEVATED inflation and peso depreciation, among others, dampened sentiments of both consumers and businesses in the last quarter of the year.
By component indicator, results of the CES performed from October 1 to 13 showed that the index for economic condition slipped further to -22 percent, so did for family income to -7.4 percent, while the family financial situation improved to -14.3 percent. Alegre said weaker consumer confidence in the country during the quarter is similar to those in Australia, South Korea and Taiwan.
The drop was traced to higher inflation, peso depreciation, decline in sales and demand, and rising cost of production inputs.
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