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Philippine Public’s Economic View at Bleakest in 11 Years: Poll

Philippine Public’s Economic View at Bleakest in 11 Years: Poll

Two of five Philippine citizens see the nation’s economy worsening in the next 12 months, according to a survey showing the dimmest public outlook since 2009.

Public view on the economy fell to -9 in July from +38 in December, based on a mobile-phone survey by Social Weather Stations released Wednesday. That’s the lowest since the -19 in February 2009.

More consumers expect the economy to worsen compared to those seeing it improve or staying the same, according to the poll that surveyed 1,555 Filipinos nationwide.

Government forecasts the economy to shrink by as much as 6.6% this year after plunging into recession in the second quarter due to the pandemic. Economic output is seen rebounding and growing by 6.5%-7.5% next year.

©2020 Bloomberg L.P.