Philippines CCI at 9.2%

Filipino households continued to show strong optimism for the fourth quarter of 2016 on a generally positive perception of the overall condition of the economy, household finances and household income, the latest central bank survey showed on Friday, Philippines News Agency reported. The confidence index—computed as the percentage of those that answered in the affirmative less the percentage of those that answered otherwise—rose to an all-time high of 9.2% for the fourth quarter of 2016, up from the 2.5% recorded in the third quarter, and the negative 8.1% in the fourth quarter of 2015, results of the latest Consumer Expectations Survey by the Bangko Sentral ng Pilipinas (BSP) showed. The index measures the average direction of change in three indicators—overall condition of the economy, household finances, and household income. A positive CI indicates a favorable view with regard to a given indicator, except for inflation, interest rates, unemployment and change in prices, where a positive CI indicates the opposite.