Philippines - Business Confidence

Philippines: Business Confidence

Mnemonic CIB.IPHL
Unit Index Number, NSA
Adjustments Not Seasonally Adjusted
Quarterly 8.47 %
Data 2022 Q4 23.87
2022 Q3 26.08

Series Information

Source Central Bank of Philippines (BSP)
Release Business Expectations Report
Frequency Quarterly
Start Date 6/30/2001
End Date 12/31/2022

Philippines: Business

Reference Last Previous Units Frequency
Industrial Production Jan 2023 103.1 97.57 Vol. Index 2018=100, NSA Monthly
Business Confidence 2022 Q4 23.87 26.08 Index Number, NSA Quarterly
Real Change in Inventories 2022 Q4 21,510 77,030 Mil. 2018 PHP, NSA Quarterly
Change in Inventories 2019 Q4 -35,437 -70,157 Mil. PHP, NSA Quarterly
Capacity Utilization 2015 81.8 % Annual

Release Information

The Philippines publishes a Business Expectation survey, the results from the survey provide an advanced view on the current and near-term economic and business conditions, and other indicators of aggregate demand that are useful inputs for the formulation of monetary policy including levels of production and economic activity as well as factors that could influence the movement of key economic variables namely, Gross Domestic Product, interest rate, peso/dollar exchange rate and inflation rate.

  • Industry classification: PSIC 2009
  • Measurements:
    • Confidence index
    • Percent
    • Count
  • Adjustment: Not seasonally adjusted (NSA)
  • Native frequency: Quarterly
  • Start date: As early as 2001Q2

The confidence "index" is a balance of opinion measure, computed as the difference between the percentages of respondents who voted "up" and "down". A positive CI indicates a favoratble view (excpet for the inflation rate and peso-borrowing rate).

The source writes:

Respondents are drawn from the combined list of the latest available Securities and Exchange Commission’s Top 7,000 Corporations and Business World’s Top 1000 Corporations, consisting of about 1,500 companies [about 40 percent of which is based in the National Capital Region (NCR) while about 60 percent of the firms are based in Areas Outside NCR (AONCR)] covering all 17 regions nationwide.

The BES uses the stratified random sampling design covering corporations from the combined list of SEC’s Top 7,000 Corporations and Business World’s Top 1000 Corporations (ranked based on gross revenues) as sampling units. The combined top corporations are subdivided into 192 strata classified by region. NCR and Areas Outside NCR and by industry sub-groups. Beginning Q1 2012, industry classification of companies shifted from the 1994 Philippine Standard Industrial Classification (PSIC) to the 2009 PSIC.

The survey is conducted every quarter, data is not revised for previous periods.