by: Sarah Joson
Tuesday, January 27, 2015 |
According to Nielsen’s recent Global Survey, the Philippines’ Consumer Confidence Index increased by five points to 120, putting it together with Indonesia at second place. The survey, which covered the fourth quarter of 2014, states that confidence levels above the baseline of 100 indicate optimism.
The research company added that the growth in consumer optimism among Filipinos is brought on by the growing middle class and the robust business process outsourcing (BPO) sector.
Stuart Jamieson, Managing Director of Nielsen Philippines, said the upshot of consumer optimism is a result of the ceaseless growth of the BPO sector which is one of the country’s bright spots. In line with that, unemployment levels are at an all-time low in 10 years as a result of a growing economy. The rapidly growing consumer class is composed of people who spend on technology, real estate, consumer and retail goods, and leisure trips.
The Philippines’ five-percent growth in confidence level is one of the largest quarterly increases globally.
India took the first spot with an index score of 129, while Thailand placed fifth with 111.
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