Low consumer confidence will curb growth
A RECENT analysis by Oxford Economics of the results of the most recent consumer expectations survey conducted by the Bangko Sentral ng Pilipinas came to some worrisome conclusions about the prospects for the economy over the next year. There is a disconnection between consumer sentiments and the actual state of the economy, and the government should take steps to address this effectively to prevent the pessimistic outlook from becoming a self-fulfilling prophecy.
While the BSP's 66-page report on the survey does a thorough job of explaining what the results were and how they were arrived at, the Oxford Economics analysis, which perhaps benefits from third-party objectivity, does a much better job of explaining what the results actually mean. There is a clear contradiction between consumer sentiment and the actual state of the economy.
Consumer Confidence Will Curb Growth
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