Consumer Expectations Survey: First Quarter 2019

Consumer Expectations Survey1
First Quarter 2019

Consumer Confidence Improves for Q1 2019,
Turns Positive for the Next Quarter
Nationwide Consumer Outlook
Overall Consumer Outlook Index

Philippines
Consumer confidence Consumer outlook improved for Q1 2019, as the overall confidence index (CI)2
improves for Q1 2019… rose to -0.5 percent from -22.5 percent in Q4 2018, registering the all-time
largest quarter-on-quarter increase since the start of the nationwide survey in
Q1 2007. The higher, albeit negative, CI indicates that the number of
households with optimistic views considerably increased, but was still lower
than those who think otherwise. According to respondents, their improved
outlook during the current quarter was mainly brought about by their
expectations of: (a) additional/high income, (b) improvement in peace and
order, (c) availability of more jobs,3 and (d) good governance.
The sentiment of consumers in the Philippines for Q1 2019 mirrored the less
pessimistic confidence of those in the Euro Area, France, South Korea,
Switzerland, Taiwan, Thailand, and the United Kingdom. However, this was in
contrast to the less optimistic views of consumers in Australia and Indonesia.4
1 The Consumer Expectations Survey (CES) is a quarterly survey of a random sample of about 5,000 households in the Philippines. Results of the CES
provide advance indication of consumer sentiments for the current and the next quarters and the year-ahead as reflected in the overall CI, as well
as in selected economic indicators.
2 The CI is computed as the percentage of households that answered in the affirmative less the percentage of households that answered in the
negative with respect to their views on a given indicator. A positive CI indicates a favorable view, except for the inflation rate, the peso-borrowing
rate, unemployment and change in prices, where a positive CI indicates the opposite. The overall consumer CI measures the average direction of
change in three indicators - overall condition of the economy, household finances, and household income. (See Technical Notes for the definition of
terms.)
3 On 6 February 2019, Labor Secretary Silvestre Bello III said that over 3,000 businesses will implement the 3-year regularization program under an
agreement to be signed between the Department of Labor and Employment (DOLE) and the establishments (Rappler). According to DOLE, over
22,000 jobs will be available for ‘skilled’ jobseekers during a job fair at the Subic Bay Metropolitan Authority gymnasium on 9 February 2019 (Manila
Bulletin). Moreover, McDonald’s Philippines will be hiring nearly 20,000 new employees in 2019 with the application process scheduled in February
2019 (Rappler).
4 CI of other countries are sourced from the following links: https://www.conference-board.org/data/consumerconfidence.cfm,
http://www.roymorgan.com/morganpoll/consumer-confidence, http://www.tradingeconomics.com/, and

http://ec.europa.eu/economy_finance/db_indicators/surveys/index_en.htm
A quarterly survey conducted by the Bangko Sentral ng Pilipinas

Department of Economic Statistics Manila, Philippines
www.bsp.gov.ph
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Consumer Expectations Survey First Quarter 2019
…the next quarter and Improvement in the consumer sentiment was carried to the subsequent
the year ahead... reference periods as the next 3 months CI reverted to positive territory at
10.7 percent from -0.8 percent in the previous quarter, and the year ahead CI
rose to 28.4 percent from 10.7 percent in Q4 2018. Similar to the current
quarter, the consumer outlook was more upbeat for the next quarter and the
year ahead due to expectations of additional/high income and availability of
more jobs. Further, respondents anticipated stable prices of goods and salary
increases for the next 12 months.
…across the three indicators The improved consumer confidence for Q1 2019 was observed across the
for Q1 2019… three component indicators of consumer confidence, namely, the country’s
economic condition, family financial situation, and family income. Notably,
the CIs for economic condition and family income posted the largest positive
changes in their respective index levels since Q1 2007. Likewise, for the next
quarter and the year ahead, consumer confidence, as measured by the three
component indicators, improved. In particular, the next quarter CIs for
economic condition and family financial situation reverted to positive
territory and the year ahead CIs for family financial situation and family
income registered the biggest upsurge since the start of the nationwide
survey.
…and across all income Likewise, consumer confidence across income5 groups improved for the
groups for the current current quarter. The consumer outlook was less pessimistic for the
quarter. low-income group, turned positive for the middle-income group and was
more favorable for the high-income group. The additional income,
improvement in peace and order, and availability of more jobs were the
common reasons for the improved outlook across income groups for Q1 2019.
Meanwhile, the high-income group was optimistic as they also anticipated
more income and additional working family members.
For the next quarter and the year ahead, the consumer sentiment turned
optimistic for the low-income group, more buoyant for the middle-income
group, but generally steady for the high-income group.
5 Low-income group refers to households with monthly family income of less than P10,000. Middle-income group refers to households with monthly
family income between P10,000-P29,999. High-income group refers to households with monthly family income of more than P30,000. Starting
Q1 2019, the monthly family income is estimated using income from the respondent, spouse, other family members, and received OFW remittances.

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NCR and AONCR Consumer Outlook
Current Quarter Consumer Outlook Index for NCR and AONCR
Consumer sentiment turns By geographical location, consumer outlook in both the National Capital
optimistic in NCR and Region (NCR) and Areas Outside NCR (AONCR) registered all-time high
less pessimistic in quarter-on-quarter increase for the current quarter, consistent with the
AONCR for the national trend. The outlook of consumers in NCR turned optimistic, while that
current quarter. of AONCR was less pessimistic. The improved consumer confidence in both
NCR and AONCR was reflected across all three economic indicators in
Q1 2019.
For the next quarter and the year ahead, consumer sentiment improved in
both areas, as the CI either turned more positive or reverted to positive
territory.
Expenditures on Basic Goods and Services
Confidence Index: Expenditures Next Quarter

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Consumers’ spending outlook The spending outlook index of households on basic goods and services
declines for the next quarter. declined to 39.6 percent for Q2 2019 (from 42.3 percent in the previous
quarter’s survey results). This suggests that while more respondents continue
to expect higher spending on basic goods and services, the number that said
so decreased compared to a quarter ago, indicating that growth in consumer
spending may slow down for the next 3 months.
Fewer respondents expected increased spending on food, non-alcoholic and

alcoholic beverages and tobacco, clothing and footwear, fuel, medical care,
transportation, education, recreation and culture, and personal care and
effects. On the other hand, more households indicated higher expenditures
for house rent and furnishing, water, electricity, and communication, while
the spending outlook remained steady for restaurants and cafes.
By geographical location, the expenditure outlook is expected to decline in

AONCR, but to remain broadly steady in NCR for the next quarter.
Expenditures on Big-Ticket Items: Consumer Durables, Motor Vehicle, and Housing
Buying conditions for big- The percentage of households that considered the current quarter as a
ticket items is more favorable favorable time to buy big-ticket items increased to 26.5 percent from
for the current quarter… 24.5 percent recorded a quarter ago. The more sanguine outlook on buying
conditions was evident across the three big-ticket items, with the highest
percentage on the purchase of real properties, followed by consumer
durables and motor vehicles.
By area, consumers’ views on buying conditions across all big-ticket items in

NCR and AONCR were in line with the improved nationwide sentiment.
…while buying intentions is Meanwhile, buying intentions for big-ticket items remained steady for real
steady for the next estate, motor vehicles and consumer durables.
12 months.
By geographical location, buying intentions for big-ticket items in the NCR was
more buoyant as consumers’ buying intentions for motor vehicles and real
estate improved, while that for consumer durables remained broadly steady.
Meanwhile, the overall buying intentions in AONCR was consistent with the
steady buying intentions for the country.
In particular, the percentage of households, who plan to buy a real property

for the next 12 months, was steady at 9 percent from 9.3 percent in the
previous quarter’s survey results. Among these households, 35.9 percent
planned to acquire a single detached house, a decline from 42.5 percent in
Q4 2018. Meanwhile, 34.3 percent intended to buy a residential lot and
29.8 percent planned to own other types of dwelling. These respondents
were also asked on the purchase price of the real properties, which they
intend to buy in the next 12 months, more than half or 60.3 percent of the
households expected to acquire a dwelling place worth ₱450,000, at most,
while slightly more than a quarter or 28.1 percent for a property valued
between ₱450,001 to ₱1,700,000. Meanwhile, a lower percentage (at

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11.6 percent from 14.8 percent in the previous quarter) of the said
households expected to buy house and/or lot at an estimated cost of more
than ₱1,700,000.6
Savings Behavior7
Percentage of Households with Savings
The percentage of For Q1 2019, the percentage of households with savings rose to 36.6 percent
households with from 32.8 percent in the previous quarter. The increase in percentage of
savings rises for savers was observed in both NCR and AONCR. According to respondents, they
Q1 2019. save money for the following reasons: (a) emergencies, (b) health and
hospitalization, (c) education, (d) retirement, (e) business capital and
investment, and (f) purchase of real estate.
Among households with savings, almost two-thirds (63.9 percent) of

respondents have bank deposit accounts for Q1 2019 (down from 68 percent
in Q4 2018). Moreover, 43.3 percent kept their savings at home, while
27.4 percent put their money in cooperatives, paluwagan, other credit/loan
associations,8 and as investment (e.g., microfinance, insurance, and stocks).
The percentage of respondents who reported that they could set aside money
for savings during the current quarter grew to 41 percent (from
40.2 percent in Q4 2018). However, the proportion of those that could set
aside 10 percent or more of their monthly gross family income was lower at
31.5 percent from 32.8 percent, a quarter ago.
6 In Q2 2018, questions on the type and the amount of house and/or lot intended to be bought by households were added.
7 In Q2 2013, questions on family savings were added to provide additional information on households’ financial assets and their access to financial
institutions.
8 Cooperatives are duly registered associations of at least fifteen (15) persons with a common bond of interest who voluntarily join together to
achieve a lawful common social and economic end. Associations are organizations of people with a common purpose and having a formal structure.
Paluwagan refers to an organization that pools the participants’ money, by means of daily, weekly, or monthly collections to be collected by a
leader. The participants will cast lots to determine the order by which each of the members will receive the pooled money.

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Selected Economic Indicators
Consumers expect inflation The survey results showed that consumers anticipated inflation to increase,
and interest rates to increase interest rates to go up and the peso to depreciate for the next 12 months.
and the exchange rate to Consumers who expected inflation to go up continued to outnumber those
depreciate for the that held the opposite view for the next 12 months, but the number that said
year ahead. so declined from that of a quarter ago. However, respondents expected that
the rate of increase in commodity prices will breach the upper end of the
government’s 2 to 4 percent inflation target range for 2019, at 4.7 percent,
over the course of the next 12 months, but lower than the anticipated
5.1 percent in the Q4 2018 survey. Meanwhile, fewer respondents expected
interest rate to increase and the peso to depreciate. Similarly, while
respondents anticipated unemployment to increase, the number that said so
declined.
Expenditures of Overseas Filipino Workers (OFWs)
OFW households that utilize Of the 443 households included in the survey that received OFW remittances
their remittances for savings for Q1 2019, 95.5 percent used the remittances that they received to
and investment decrease purchase food and other household needs, a decrease from 98.5 percent
for the current quarter. recorded in the Q4 2018 result. Further, the proportion of OFW households
that allotted part of their remittances for education (65.7 percent), medical
expenses (46.3 percent), savings (33 percent), debt payments (21.4 percent),
purchase of house (10.2 percent), and investment (3.8 percent) decreased
compared to the previous quarter’s survey results. The lower quarter-on-
quarter percentage of OFW households that allotted remittances for debt
payments is consistent with the lesser number of respondents and his/her
spouse who declared having an outstanding loan. Meanwhile, the percentage
of OFW households apportioned their remittances for purchase of
appliances/consumer durables (19.2 percent), purchase of car/motor vehicle
(10.2 percent) as well as other miscellaneous expenses (3.8 percent)
increased, which is consistent with the more favorable nationwide buying
conditions for the said big-ticket items.

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Revised Page
Agenda Item No. 39
28 March 2019 MB Meeting
By geographical area, a higher percentage of OFW households in the NCR

allocated part of their remittances to education, savings, investments, as well
as purchase food and other household needs, consumer durables, house, and
motor vehicles compared to their counterparts in the AONCR.
In the last 12 months, the number of OFW households continued to find it

easy to receive the money transferred by the OFW and the number that said
so increased, as the CI went up to 47.2 percent in Q1 2019 (from 42.3 percent
in the prior survey report). Some of the reasons cited by those experiencing
difficulty in receiving money remittance from OFW are: (a) strict requirements
(i.e., age of claimer, ID) and (b) long queues. 9
Respondent and/or Spouse Debt Situation10
Debt-to-income ratio of Almost one-third or 30.7 percent (equivalent to 1655 households) of the
surveyed respondents respondents declared that he/she and/or his/her spouse have an outstanding
rose to 37.9 percent loan11 at present. By geographical area, 34.3 percent of the households with
for Q1 2019. outstanding loans were from the NCR and 65.7 percent from the AONCR.
Meanwhile, by income groups, 26.3 percent, 44.2 percent, and 29.5 percent
of the households came from the low-, medium-, and high-income groups,
respectively.
The debt-to-income ratio12 of surveyed respondents rose to 37.9 percent for

the current quarter, higher compared to the previous quarter’s survey results
of 24.3 percent. Notwithstanding, the total principal debt was lower at
₱157,466,674 compared to Q4 2018 at ₱189,351,932. Likewise, the average
amount of principal loan of respondents and/or spouse at ₱79,973 was less
than the Q4 2018 survey result at ₱89,486. Meanwhile, the median amount
remained at ₱10,000. On the other hand, average monthly loan amortization
for the current quarter increased to ₱17,595 from ₱10,070 in Q4 2018 and
the median monthly amortization was ₱2,400, higher than that of Q4 2018 at
₱2,300. Majority (77.4 percent) of the loans were paid on schedule, while
6.2 percent were ahead and 16.4 percent were behind. On average,
respondents and/or spouses paid an annual interest rate of 33 percent, which
was higher than Q4 2018 at 30.9 percent.
Majority (70.5 percent) of those with outstanding loans preferred to avail

cash loans (down from 72.4 percent in the previous quarter survey’s result).
This was followed by loan in kind, particularly food items (11.6 percent from
13.4 percent in Q4 2018), and salary loans (8.7 percent from 8.1 percent in
the previous quarter).
9 In Q2 2018, question on the experience of OFW households in receiving the money transferred by the OFW was added.
10 In Q2 2018, questions on the respondent and/or spouse debt situation were added.
11 Outstanding debt/loan pertains to the unpaid balance of loans by respondent including spouse/partner which was reported active at the time of
interview.
12 Computed as the ratio of monthly debt per capita and monthly amortization of loan times 100.

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Similar to the previous quarter, most of the loans availed (at 91.9 percent)
had no collateral. Respondents’ relied more on the “Sangla ATM”, the most
common collateral used at 2.2 percent for Q1 2019 (from 3.1 percent in
Q4 2018). Other collaterals used were vehicle (1.3 percent), land13
(1.2 percent), and real property (1.1 percent).
Lending companies became the top provider of loans to surveyed

respondents for Q1 2019 (22.2 percent). This was followed by relatives and
friends (20.6 percent), individual money lenders (18.8 percent), banks
(10.7 percent), and government institutions (8.7 percent).
For the next quarter and the year ahead, more respondents expected their
outstanding loans to decrease compared to previous quarter’s survey result.
For Q1 2019, the index on debt payment experience improved, but remained
in negative territory at -0.8 percent from -2.7 percent in Q4 2018. This means
that the number of respondents who found it easier to pay household debt
increased, but continued to be less than those who think otherwise. The
reason for the difficulty in paying household debt may be due to the
following: (a) income is not enough, (b) low income, (c) budget deficit, (d) no
regular source of income, and (e) business is down.
About the Survey
A total of 5,396 households The Consumer Expectations Survey (CES) started in Q3 2004 covering the NCR
nationwide participated only. Beginning Q1 2007, the BSP expanded the survey’s scope to cover the
in the survey. whole country.
The Q1 2019 CES was conducted during the period 5 – 16 February 2019. The
CES samples were drawn from the Philippine Statistics Authority (PSA) Master
Sample List of Households, which is considered a representative sample of
households nationwide. The CES sample households were generated using a
stratified multi-stage probability sampling scheme.14 It has a sample size of
5,562 households, of which 2,665 (47.9 percent) were from NCR and 2,897
(52.1 percent) from AONCR.
Of the sample size, 5,396 households responded to the survey, equivalent to a

response rate of 97 percent, (from 96.5 percent in the last quarter’s survey).
The respondents consist of 2,571 households in NCR (with 96.5 percent
response rate) and 2,825 households in AONCR (with 97.5 percent response
rate). The majority of the respondents were from the middle-income group
(43.5 percent), followed by the high-income group (28.5 percent) and the low-
income group (28 percent).
13 Refers to any type of lot, whether agricultural, residential, or commercial, without any structure attached to it.
14 The Master Sample was subdivided into Primary Sampling Units (PSU) (i.e., a whole barangay or a portion of a large barangay or combinations of
small barangays) ordered according to the following: (1) North-South/West-East Geographic location; (2) Decreasing Population of Households with
Overseas Workers; and (3) Decreasing Wealth index. Under the ordered list of PSUs, sample households will be systematically drawn from the
randomly selected PSUs.

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TECHNICAL NOTES
The overall consumer confidence index is computed as the average of the three indices, namely:
1. Economic Condition refers to the perception of the respondent regarding the general economic condition of the
country.
2. Family Financial Situation refers to the level of: a) household income in cash as well as in kind, b) savings,
c) outstanding debts, d) investments and e) assets.
3. Family Income includes primary income and receipts from other sources received by all family members as
participants in any economic activity or as recipients of transfers, pensions, grants, and the like.

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Consumer Expectations Survey
Philippines
Q1 2014 - Q1 2019
2014 2015 2016 2017 2018 2019

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
1. Overall Consumer Outlook: Composite Index

Current Quarter -18.8 -17.3 -26.3 -21.8 -10.0 -16.2 -11.6 -8.1 -5.7 -6.4 2.5 9.2 8.7 13.1 10.2 9.5 1.7 3.8 -7.1 -22.5 -0.5
NCR -17.3 -17.3 -24.1 -22.2 -6.0 -3.7 -4.5 -1.3 -1.1 -4.2 7.3 9.0 8.6 10.0 11.2 6.6 12.1 7.8 -2.5 -17.0 4.4
AONCR -19.0 -17.3 -26.6 -21.8 -10.7 -18.3 -12.7 -9.2 -6.4 -6.8 1.8 9.2 8.7 13.6 10.0 9.9 0.1 3.2 -7.8 -23.4 -1.3
Less than P10,000 -27.1 -29.9 -36.1 -30.9 -20.8 -28.5 -20.8 -18.6 -15.3 -17.2 -5.5 0.4 -0.6 2.1 -2.0 -0.6 -8.5 -7.9 -17.3 -33.0 -16.4
P10,000-P29,999 -11.7 -4.3 -16.1 -12.2 2.2 -6.8 -1.9 0.8 4.0 2.2 10.3 18.0 16.5 22.1 20.0 17.4 8.3 12.6 -2.0 -20.2 4.7
P30,000 and over 4.5 8.9 0.6 4.6 10.5 15.7 13.6 22.0 18.1 18.2 25.4 29.1 31.2 36.8 35.1 33.3 23.8 28.5 17.6 1.9 10.8
Next 3 Months 5.4 0.0 -1.0 0.7 4.4 -0.4 5.8 5.7 9.1 5.6 27.3 18.8 16.5 13.6 17.8 17.5 8.8 8.7 3.8 -0.8 10.7
NCR -1.1 -1.4 0.1 2.6 4.5 6.4 9.3 8.8 9.4 8.4 28.5 14.8 14.7 12.1 19.4 22.2 13.9 10.2 6.6 4.9 10.9
AONCR 6.5 0.3 -1.2 0.4 4.3 -1.5 5.2 5.2 9.0 5.1 27.1 19.5 16.8 13.8 17.6 16.7 8.0 8.4 3.3 -1.7 10.7
Less than P10,000 1.6 -3.5 -3.8 -2.1 0.2 -5.1 2.2 0.2 4.9 0.9 24.1 15.0 13.9 9.0 12.9 10.8 3.7 1.7 -3.2 -10.3 5.3
P10,000-P29,999 9.5 3.2 1.4 4.1 9.5 4.3 9.7 10.6 13.1 9.2 31.0 20.8 18.2 17.2 22.4 22.4 11.5 13.9 8.7 3.1 11.0
P30,000 and over 13.3 9.0 7.8 7.6 11.2 8.9 14.9 21.3 20.1 16.7 34.0 32.6 24.0 23.9 26.6 34.4 21.4 23.0 16.4 17.0 16.7
Next 12 Months 19.3 15.9 9.7 9.6 17.3 16.4 15.8 18.0 25.4 26.6 43.8 33.4 31.7 34.3 33.7 32.0 24.0 23.1 13.0 10.7 28.4
NCR 20.3 19.7 16.7 18.3 27.8 25.9 25.5 24.4 29.7 32.9 49.1 37.7 41.1 34.4 42.5 43.9 38.0 26.7 21.7 24.0 30.1
AONCR 19.2 15.2 8.6 8.2 15.6 14.9 14.2 17.0 24.7 25.5 42.9 32.7 30.2 34.3 32.2 30.1 21.8 22.5 11.6 8.5 28.1
Less than P10,000 14.8 11.4 5.6 4.2 12.5 10.4 12.2 10.5 18.0 21.2 39.5 28.9 27.2 30.5 28.4 24.9 16.6 17.9 4.2 -2.2 20.8
P10,000-P29,999 24.2 20.2 13.4 16.1 21.9 22.3 18.7 25.5 33.3 31.8 49.2 37.1 34.8 36.9 38.1 37.7 28.3 26.2 19.5 17.3 31.8
P30,000 and over 29.0 26.0 22.8 22.4 28.9 29.0 27.8 35.9 41.8 36.2 51.4 45.9 44.5 43.9 44.0 48.4 41.3 36.0 27.5 31.5 32.4
2. Consumer Outlook Indices on the Current Economic and Family Condition: Current Quarter
Philippines
Economic Condition -32.7 -30.2 -46.6 -38.2 -15.8 -31.1 -22.7 -13.9 -10.1 -15.8 9.5 21.9 21.9 26.6 13.9 10.9 -0.1 5.7 -17.0 -43.6 -1.2
Less than P10,000 -36.2 -34.5 -49.5 -40.1 -21.4 -37.4 -27.1 -17.5 -13.8 -18.1 8.6 20.4 17.9 23.4 6.9 5.3 -5.4 -0.8 -19.1 -45.0 -14.3
P10,000-P29,999 -31.2 -27.4 -45.5 -37.3 -9.2 -26.1 -18.7 -11.5 -5.4 -14.7 8.4 24.7 24.8 27.6 19.5 15.3 3.8 11.1 -18.3 -45.6 3.0
P30,000 and over -18.6 -16.3 -33.2 -28.3 -5.6 -15.1 -9.2 -0.9 -4.1 -8.6 19.0 21.7 32.8 38.0 28.5 23.9 10.2 18.2 -4.9 -34.7 8.3
Family Financial Situation -16.7 -16.8 -23.8 -19.6 -11.7 -13.0 -10.6 -9.9 -6.3 -4.4 -2.2 0.7 1.2 4.4 7.6 7.3 -1.3 0.2 -5.3 -17.5 -4.4
Less than P10,000 -29.3 -34.6 -38.8 -33.8 -27.2 -30.3 -23.7 -25.6 -21.2 -21.5 -15.9 -12.6 -11.8 -12.4 -8.4 -5.7 -15.9 -14.9 -20.2 -33.8 -21.4
P10,000-P29,999 -4.8 2.1 -6.9 -4.0 6.1 0.5 3.1 3.1 8.5 9.2 12.9 13.2 12.7 18.6 20.3 17.6 9.0 10.6 3.1 -10.9 -0.2
P30,000 and over 15.9 18.8 13.1 19.9 17.3 31.8 26.0 35.8 30.7 34.6 31.1 33.0 31.2 39.4 40.8 37.8 27.6 35.1 27.6 13.3 9.6
Family Income -7.1 -4.9 -8.4 -7.7 -2.7 -4.6 -1.4 -0.5 -0.5 0.9 0.2 4.9 3.0 8.3 9.0 10.3 6.6 5.5 1.0 -6.5 4.1
Less than P10,000 -15.8 -20.6 -20.0 -18.7 -13.9 -17.7 -11.5 -12.7 -10.9 -12.0 -9.3 -6.7 -7.9 -4.6 -4.4 -1.3 -4.2 -7.9 -12.7 -20.3 -13.6
P10,000-P29,999 0.9 12.4 4.1 4.9 9.6 5.2 9.8 10.9 8.9 12.0 9.7 16.2 12.0 19.9 20.1 19.2 12.0 16.0 9.0 -4.0 11.3
P30,000 and over 16.2 24.2 21.9 22.2 19.8 30.5 23.9 31.2 27.8 28.7 26.2 32.6 29.7 33.0 35.8 38.2 33.6 32.3 30.2 27.2 14.7
NCR
Economic Condition -32.9 -37.1 -49.3 -44.9 -17.1 -22.4 -19.1 -13.6 -12.1 -21.1 9.2 9.1 12.1 14.0 12.9 -2.4 10.3 3.2 -12.6 -35.4 -1.7
Less than P10,000 -44.8 -51.1 -61.3 -56.3 -34.3 -38.5 -30.1 -22.1 -24.1 -30.0 5.4 -0.3 -2.0 -3.8 1.7 -12.5 -8.1 -9.6 -27.3 -44.1 -13.4
P10,000-P29,999 -32.0 -37.5 -50.4 -43.5 -10.4 -21.2 -18.8 -13.3 -9.2 -20.5 7.7 9.9 10.7 10.8 15.1 -4.0 10.0 4.3 -11.5 -38.5 -3.0
P30,000 and over -19.5 -17.4 -34.2 -30.9 -7.1 -10.0 -1.9 -1.1 0.0 -10.8 17.3 19.6 26.1 36.7 19.5 10.4 22.6 17.0 -0.7 -22.9 6.2
Family Financial Situation -10.4 -8.6 -14.3 -13.6 -2.5 5.6 2.4 3.9 4.1 4.0 6.9 11.0 7.4 7.9 9.1 12.7 12.9 9.1 -0.1 -11.3 6.4
Less than P10,000 -38.9 -43.5 -44.7 -38.6 -34.0 -27.6 -25.8 -19.7 -15.3 -26.7 -19.3 -20.5 -24.5 -27.4 -25.5 -14.2 -24.3 -18.7 -31.4 -31.8 -18.4
P10,000-P29,999 -8.6 -4.8 -14.5 -14.9 2.1 3.9 5.2 5.2 5.2 6.8 7.7 15.9 3.9 8.6 9.7 11.0 11.3 9.4 -2.0 -17.6 3.8
P30,000 and over 22.4 30.6 19.4 27.9 31.7 39.4 42.9 38.1 32.8 37.5 38.8 40.6 39.0 38.4 40.3 42.4 39.6 44.8 35.4 16.5 22.5
Family Income -8.6 -6.2 -8.8 -8.1 1.5 5.7 3.2 5.7 4.8 4.5 5.7 7.0 6.3 8.0 11.5 9.4 13.1 11.0 5.1 -4.2 8.5
Less than P10,000 -34.9 -32.9 -37.7 -29.0 -24.0 -23.6 -17.5 -13.6 -13.0 -19.5 -15.0 -21.0 -18.9 -20.8 -15.0 -15.9 -19.7 -13.0 -21.2 -26.2 -17.5
P10,000-P29,999 -6.4 -3.5 -7.8 -7.9 4.6 3.7 5.3 8.0 4.9 7.3 7.3 12.2 4.8 10.7 14.3 8.2 11.3 10.6 5.2 -7.0 8.2
P30,000 and over 20.6 24.3 21.2 23.4 30.5 36.4 32.9 30.6 33.6 29.4 28.8 31.3 29.4 28.7 31.2 36.7 37.1 43.3 30.9 17.8 21.5
Details may not add up due to rounding.

Low-income group refers to households with monthly family income of less than P10,000. Middle-income group refers to households with monthly family income between
P10,000-P29,999. High-income group refers to households with monthly family income of more than P30,000. Starting Q1 2019, the monthly family income is estimated
using income from the respondent, spouse, other family members, and received OFW remittances.
Department of Economic Statististics Manila, Philippines
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Page 1
Philippines
Q1 2014 - Q1 2019
2014 2015 2016 2017 2018 2019

2. Consumer Outlook Indices on the Current Economic and Family Condition: Current Quarter (Continued)
AONCR
Economic Condition -32.6 -29.1 -46.2 -37.1 -15.5 -32.5 -23.3 -13.9 -9.8 -15.0 9.6 23.9 23.4 28.6 14.1 13.0 -1.8 6.2 -17.7 -44.9 -1.1
Less than P10,000 -35.5 -33.1 -48.6 -38.9 -20.3 -37.3 -26.8 -17.1 -12.9 -17.2 8.8 21.9 19.1 25.1 7.2 6.6 -5.3 -0.2 -18.6 -45.1 -14.4
P10,000-P29,999 -30.9 -24.8 -44.2 -35.6 -8.9 -27.4 -18.7 -11.0 -4.3 -13.1 8.6 28.9 28.5 32.0 20.6 20.2 2.2 12.9 -20.0 -47.2 4.4
P30,000 and over -18.2 -15.8 -32.6 -27.2 -5.1 -17.4 -12.2 -0.8 -5.5 -7.9 19.8 22.5 36.1 38.5 32.4 29.6 4.9 18.5 -6.3 -38.4 8.7
Family Financial Situation -17.7 -18.1 -25.3 -20.6 -13.2 -16.1 -12.7 -12.2 -8.0 -5.8 -3.6 -1.0 0.2 3.9 7.4 6.4 -3.6 -1.2 -6.1 -18.5 -6.2
Less than P10,000 -28.6 -33.9 -38.4 -33.4 -26.7 -30.5 -23.5 -26.1 -21.7 -21.1 -15.6 -12.0 -11.0 -11.5 -7.2 -5.1 -15.4 -14.6 -19.4 -33.9 -21.6
P10,000-P29,999 -3.8 3.8 -4.9 -0.9 7.1 -0.5 2.6 2.6 9.4 9.8 14.3 12.4 15.0 21.2 22.8 19.2 8.4 10.9 4.4 -9.3 -1.1
P30,000 and over 13.3 13.9 9.5 16.5 11.7 28.3 19.0 34.9 30.0 33.7 27.6 30.3 27.4 39.8 41.1 35.8 22.5 32.1 25.0 12.3 7.1
Family Income -6.8 -4.7 -8.4 -7.6 -3.4 -6.2 -2.2 -1.5 -1.4 0.4 -0.7 4.6 2.4 8.4 8.6 10.4 5.5 4.6 0.3 -6.9 3.4
Less than P10,000 -14.4 -19.6 -18.8 -17.9 -13.0 -17.3 -10.9 -12.6 -10.8 -11.5 -8.9 -5.7 -7.2 -3.6 -3.6 -0.3 -3.4 -7.5 -12.1 -19.9 -13.3
P10,000-P29,999 2.9 16.3 7.2 8.5 10.8 5.6 11.0 11.6 10.0 13.3 10.3 17.4 13.9 22.4 21.4 21.9 12.2 17.4 10.0 -3.3 12.1
P30,000 and over 14.4 24.2 22.3 21.7 15.7 27.8 20.1 31.4 25.9 28.5 25.1 33.1 29.8 34.8 37.8 38.8 32.1 28.9 29.9 30.1 13.4
3. Consumer Outlook Indices on Economic and Family Condition: Next Quarter

Philippines
Economic Condition -0.4 -5.7 -12.5 -10.3 -1.0 -8.1 -2.6 0.0 6.4 7.7 47.4 28.2 22.3 20.8 20.4 16.8 6.1 12.3 -2.6 -8.6 10.5
Less than P10,000 -3.7 -7.7 -13.8 -11.3 -4.2 -10.6 -4.1 -3.6 2.9 5.1 45.6 27.8 21.3 18.0 18.1 11.7 2.8 7.4 -6.7 -15.7 3.6
P10,000-P29,999 1.7 -5.0 -11.1 -8.3 3.3 -5.5 -1.2 4.5 10.9 8.4 48.4 26.4 21.1 22.3 23.5 19.1 7.9 16.6 -0.3 -5.1 12.5
P30,000 and over 10.5 2.8 -8.7 -10.4 3.1 -3.6 1.8 5.1 11.7 17.8 54.2 35.7 29.8 28.5 21.3 33.5 13.8 21.0 6.4 3.4 15.7
Family Financial Situation 6.7 0.3 1.5 2.9 5.2 1.0 8.4 7.3 9.1 2.5 16.9 13.4 12.3 9.6 15.4 16.7 8.5 6.4 5.5 -0.4 8.9
Less than P10,000 1.7 -5.9 -2.6 -1.7 -0.4 -5.9 3.0 -0.2 3.1 -4.7 12.5 7.4 8.4 2.8 8.0 8.4 2.2 -3.4 -4.4 -11.7 5.1
P10,000-P29,999 13.1 6.9 4.3 8.1 11.7 7.8 14.9 13.0 14.0 9.2 22.2 17.7 15.4 15.3 21.6 23.4 10.9 13.9 12.3 3.8 7.0
P30,000 and over 14.8 12.9 17.4 14.9 16.1 14.2 20.3 31.6 26.7 16.6 25.9 31.9 22.0 24.0 29.5 35.7 25.9 26.6 23.9 21.8 16.1
Family Income 9.9 5.5 7.8 9.5 8.9 6.0 11.6 10.0 11.8 6.5 17.5 14.8 15.1 10.4 17.8 19.0 12.0 7.3 8.5 6.6 12.7
Less than P10,000 6.9 3.1 5.1 6.7 5.3 1.1 7.7 4.4 8.6 2.4 14.2 9.8 12.2 6.1 12.4 12.2 6.1 1.2 1.7 -3.5 7.1
P10,000-P29,999 13.7 7.7 11.0 12.4 13.6 10.7 15.4 14.3 14.4 9.8 22.4 18.3 18.2 14.0 22.0 24.8 15.8 11.3 14.0 10.5 13.5
P30,000 and over 14.7 11.2 14.6 18.1 14.4 16.2 22.6 27.2 21.8 15.6 21.9 30.3 20.0 19.2 28.8 33.9 24.6 21.4 18.9 25.9 18.3
NCR
Economic Condition -6.4 -6.5 -12.8 -9.9 -3.2 -5.1 -1.6 2.1 6.8 7.1 46.3 18.5 19.2 16.3 18.0 19.4 12.3 7.3 -0.9 1.1 9.8
Less than P10,000 -15.4 -13.8 -17.7 -18.5 -15.8 -13.7 -7.0 -6.0 -0.3 0.4 46.6 10.5 15.5 6.7 9.3 10.2 6.5 -0.9 -12.0 -8.2 2.6
P10,000-P29,999 -6.1 -7.5 -11.5 -5.4 3.4 -3.5 -1.1 4.0 9.6 8.2 44.2 19.5 17.7 14.5 21.8 18.5 10.6 8.6 0.8 0.2 7.7
P30,000 and over 4.5 5.4 -9.8 -7.6 0.8 -0.3 6.0 10.3 11.2 13.2 50.5 26.4 24.7 28.5 19.5 30.2 18.8 14.3 5.9 9.6 16.6
Family Financial Situation 0.0 0.9 2.6 7.0 8.1 11.4 13.6 12.7 11.7 9.0 20.1 15.0 13.0 10.9 16.4 23.5 13.5 11.0 9.2 3.3 9.6
Less than P10,000 -11.8 -13.3 -12.1 -7.6 -9.1 -5.7 2.5 -0.2 -0.4 -4.0 8.3 -0.9 2.2 -6.4 -3.5 9.3 0.4 -4.0 -10.4 -6.0 -4.4
P10,000-P29,999 1.4 1.7 3.4 8.0 13.2 11.9 13.4 13.5 14.3 11.4 21.9 17.2 11.1 10.2 19.4 23.5 11.7 10.9 9.1 0.0 7.3
P30,000 and over 12.0 18.6 17.3 26.9 21.3 25.9 32.4 31.1 24.6 20.3 31.3 30.6 24.8 28.2 29.7 37.6 25.1 30.7 28.8 16.8 20.0
Family Income 3.0 1.3 10.4 10.6 8.7 13.1 16.0 11.6 9.8 9.3 19.0 11.0 11.8 9.1 23.9 23.6 16.0 12.4 11.4 10.4 13.2
Less than P10,000 -6.5 -6.4 1.3 0.6 -1.7 -1.2 5.0 4.2 2.5 1.1 9.8 0.4 2.0 -2.0 8.0 8.5 1.1 1.1 -4.1 -2.4 4.6
P10,000-P29,999 4.2 2.0 10.8 12.4 11.0 12.4 18.1 10.9 10.4 11.0 20.0 13.2 11.8 9.5 26.2 25.0 15.7 12.0 13.3 11.1 10.5
P30,000 and over 12.9 10.4 19.6 21.9 18.2 27.3 29.7 25.1 19.9 15.8 28.7 19.7 19.8 18.6 34.7 36.3 26.1 28.2 22.0 18.4 21.5

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Page 2
Philippines
Q1 2014 - Q1 2019
2014 2015 2016 2017 2018 2019

3. Consumer Outlook Indices on Economic and Family Condition: Next Quarter (Continued)
AONCR
Economic Condition 0.5 -5.6 -12.4 -10.4 -0.7 -8.6 -2.8 -0.4 6.3 7.8 47.5 29.8 22.8 21.5 20.8 16.4 5.1 13.2 -2.9 -10.1 10.6
Less than P10,000 -2.8 -7.2 -13.6 -10.8 -3.3 -10.4 -3.9 -3.4 3.2 5.4 45.6 29.1 21.6 18.8 18.8 11.8 2.6 8.0 -6.4 -16.2 3.7
P10,000-P29,999 3.8 -4.3 -11.0 -9.2 3.3 -6.0 -1.2 4.6 11.3 8.5 49.6 28.4 22.0 24.4 23.9 19.3 7.2 18.7 -0.6 -6.4 13.6
P30,000 and over 12.9 1.7 -8.0 -11.6 4.0 -5.2 0.0 3.1 11.9 19.3 55.9 39.1 32.3 28.5 22.1 34.9 11.7 23.1 6.6 1.5 15.5
Family Financial Situation 7.8 0.2 1.4 2.2 4.8 -0.7 7.5 6.5 8.7 1.5 16.4 13.2 12.1 9.4 15.2 15.6 7.7 5.6 4.9 -1.0 8.8
Less than P10,000 2.7 -5.3 -1.9 -1.2 0.3 -5.9 3.1 -0.2 3.4 -4.8 12.8 8.1 8.7 3.4 8.8 8.4 2.3 -3.4 -4.0 -12.1 5.7
P10,000-P29,999 16.3 8.2 4.6 8.1 11.3 6.7 15.3 12.9 13.9 8.6 22.3 17.9 16.5 16.6 22.2 23.3 10.6 14.6 13.1 4.7 7.0
P30,000 and over 15.9 10.5 17.4 9.8 14.0 8.9 15.2 31.7 27.3 15.4 23.5 32.4 20.7 22.2 29.5 35.0 26.3 25.3 22.3 23.4 15.3
Family Income 11.0 6.2 7.4 9.4 8.9 4.9 10.8 9.7 12.2 6.1 17.3 15.4 15.6 10.6 16.8 18.3 11.3 6.4 8.1 6.0 12.7
Less than P10,000 7.9 3.9 5.3 7.2 5.8 1.3 8.0 4.4 9.1 2.5 14.5 10.5 12.8 6.7 12.8 12.5 6.4 1.3 2.0 -3.6 7.3
P10,000-P29,999 16.3 9.1 11.0 12.4 14.2 10.3 14.7 15.2 15.5 9.5 23.1 19.8 20.0 15.2 21.0 24.7 15.8 11.1 14.2 10.4 14.2
P30,000 and over 15.4 11.6 11.8 16.5 12.8 11.1 19.6 28.0 22.4 15.5 18.8 34.1 20.1 19.4 26.2 32.9 23.9 19.3 17.8 28.1 17.7
4. Consumer Outlook Indices on Economic and Family Condition: Next 12 Months
Philippines
Economic Condition 12.8 8.2 -2.3 -5.6 11.8 5.1 4.9 14.7 25.8 28.6 67.7 42.2 39.3 40.4 40.3 31.4 18.6 23.7 6.9 3.1 27.1
Less than P10,000 9.3 5.3 -6.1 -9.4 8.6 0.9 3.2 7.8 19.5 23.8 65.1 39.5 35.1 38.8 37.1 24.9 13.3 19.1 -0.6 -7.4 20.6
P10,000-P29,999 16.4 9.6 1.1 -0.8 14.4 8.8 5.0 21.3 32.3 33.4 70.6 44.5 42.8 40.9 43.7 37.2 21.2 27.6 12.2 8.8 30.4
P30,000 and over 21.1 19.3 9.0 3.7 20.6 15.0 14.3 32.6 40.8 36.5 73.6 49.6 49.7 46.1 44.7 45.1 32.0 32.1 20.1 19.3 30.3
Less than P10,000 14.9 9.7 7.9 5.3 11.2 12.7 14.7 10.1 16.1 17.8 26.8 21.9 20.7 23.4 23.2 23.7 13.6 14.0 3.9 -3.4 16.9
P10,000-P29,999 25.9 24.9 16.8 22.4 26.1 28.6 26.0 27.2 34.6 32.0 39.8 32.9 30.2 36.3 36.5 34.9 28.4 23.7 21.1 16.0 29.0
P30,000 and over 32.8 29.8 31.7 30.2 30.5 36.1 33.3 39.4 43.0 36.8 43.4 45.4 43.5 43.7 44.7 48.6 46.6 35.9 29.9 34.7 32.1
Family Income 24.8 22.5 18.5 21.5 21.9 23.6 22.4 20.6 25.6 26.3 31.2 29.9 29.3 32.3 30.2 34.1 30.3 25.4 18.3 18.7 32.0
Less than P10,000 20.2 19.2 15.1 16.9 17.6 17.6 18.8 13.7 18.5 21.9 26.8 25.2 25.8 29.4 24.8 26.2 23.0 20.7 9.2 4.1 25.0
P10,000-P29,999 30.4 26.0 22.2 26.7 25.1 29.6 25.1 28.0 33.2 30.1 37.4 33.7 31.4 33.5 34.1 40.9 35.3 27.5 25.3 27.0 36.0
P30,000 and over 33.1 29.1 27.6 33.4 35.5 35.9 35.8 35.5 41.8 35.3 37.1 42.6 40.3 42.0 42.6 51.5 45.3 40.0 32.5 40.5 34.7
NCR
Economic Condition 13.5 12.0 4.0 -0.6 16.6 13.9 18.0 16.9 28.3 33.9 70.8 41.2 48.7 41.5 48.0 44.1 36.7 22.7 15.6 18.9 29.7
Less than P10,000 3.6 6.2 -6.2 -12.6 8.9 1.8 9.0 10.2 20.2 24.3 72.0 30.4 38.1 35.1 32.9 30.4 23.6 11.9 2.4 3.4 25.8
P10,000-P29,999 12.6 11.2 5.0 4.5 19.5 16.3 17.7 15.7 29.1 35.7 69.5 43.5 47.7 40.5 52.7 46.4 37.5 23.7 16.0 18.2 28.4
P30,000 and over 28.1 21.8 13.6 5.3 21.3 20.5 33.2 30.2 39.5 42.3 72.2 49.9 58.9 49.4 53.8 53.8 43.5 34.4 27.7 31.9 33.6
Less than P10,000 11.4 9.1 5.2 4.5 19.2 14.3 15.2 14.2 15.9 18.6 27.5 18.8 22.9 17.0 11.6 23.1 24.1 10.7 -0.6 1.6 12.5
P10,000-P29,999 22.1 25.2 20.8 28.8 36.1 30.9 33.2 32.3 33.9 34.9 42.5 41.8 37.2 30.2 43.3 42.5 34.1 26.1 23.1 19.0 27.6
P30,000 and over 38.0 41.0 39.0 44.0 45.2 49.9 49.8 50.2 47.9 43.2 47.6 48.8 48.8 46.7 55.2 56.1 48.6 52.0 40.4 40.7 37.9
Family Income 24.9 23.3 25.0 31.4 33.9 32.1 27.9 26.3 29.8 32.7 37.3 35.0 37.5 30.2 41.1 46.6 40.8 29.9 27.9 31.8 32.2
Less than P10,000 15.2 10.9 16.3 16.1 25.2 15.7 16.4 16.1 20.2 22.6 26.9 20.7 22.8 23.6 21.0 27.3 28.7 17.5 11.9 7.1 21.2
P10,000-P29,999 25.4 24.8 23.2 35.4 34.9 32.0 30.3 27.8 31.4 35.1 39.4 39.0 36.6 29.4 44.8 49.5 41.3 27.4 29.5 34.1 32.4
P30,000 and over 36.3 37.1 37.8 45.4 43.7 47.2 41.6 38.9 41.4 39.9 45.7 44.0 50.9 37.8 53.1 60.9 47.9 52.7 39.5 45.8 37.0
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Page 3
Philippines
Q1 2014 - Q1 2019
2014 2015 2016 2017 2018 2019
4. Consumer Outlook Indices on Economic and Family Condition: Next 12 Months (Continued)
AONCR
Economic Condition 12.7 7.6 -3.4 -6.4 11.0 3.7 2.7 14.4 25.4 27.7 67.2 42.4 37.8 40.2 39.1 29.4 15.7 23.8 5.5 0.6 26.7
Less than P10,000 9.7 5.2 -6.0 -9.2 8.6 0.8 2.7 7.6 19.4 23.8 64.6 40.2 34.9 39.0 37.4 24.5 12.7 19.6 -0.8 -8.1 20.2
P10,000-P29,999 17.4 9.2 0.1 -2.4 13.1 6.7 1.7 22.7 33.2 32.7 70.9 44.8 41.5 41.1 41.6 34.9 17.0 28.6 11.3 6.6 30.8
P30,000 and over 18.2 18.2 6.4 3.0 20.3 12.5 6.5 33.6 41.2 34.7 74.3 49.5 45.3 44.7 40.7 41.4 27.0 31.4 17.7 15.4 29.7
Less than P10,000 15.2 9.7 8.1 5.3 10.5 12.6 14.7 9.7 16.1 17.7 26.7 22.1 20.6 23.8 24.1 23.7 13.0 14.3 4.2 -3.7 17.2
P10,000-P29,999 26.9 24.8 15.7 20.5 23.5 27.9 24.1 26.0 34.7 31.3 39.0 30.4 28.3 37.9 34.8 33.0 27.0 23.1 20.6 15.3 29.4
P30,000 and over 30.7 25.1 27.7 24.3 24.8 29.7 26.5 35.3 41.4 34.7 41.4 44.2 40.9 42.4 40.1 45.4 45.7 31.0 26.4 32.8 31.0
Family Income 24.8 22.4 17.5 19.8 20.0 22.3 21.5 19.7 24.9 25.3 30.2 29.0 28.0 32.7 28.5 32.1 28.6 24.7 16.7 16.6 32.0
Less than P10,000 20.6 19.9 15.0 17.0 16.9 17.7 19.0 13.5 18.4 21.9 26.8 25.6 26.0 29.8 25.1 26.1 22.7 20.9 9.1 3.9 25.3
P10,000-P29,999 31.8 26.3 21.9 24.3 22.5 28.9 23.8 28.1 33.7 28.8 36.8 32.2 30.1 34.6 31.5 38.8 33.8 27.5 24.2 25.3 36.9
P30,000 and over 31.8 25.8 21.8 28.2 32.3 30.8 33.4 34.2 41.9 33.8 33.3 42.1 35.2 43.7 38.0 47.6 44.2 36.1 30.2 38.8 34.3
5. Confidence Index on Amount of Expenditures: Next Quarter
Philippines 42.8 42.3 43.0 42.9 31.0 32.9 37.3 34.2 30.0 30.2 27.8 28.2 28.7 29.3 28.1 34.9 37.1 36.3 45.7 42.3 39.6
Food, Non-alcoholic and
Alcoholic Beverages, and 64.6 65.8 67.5 67.2 49.3 50.4 58.6 53.8 51.3 49.0 46.2 45.8 45.5 48.3 47.3 53.3 58.5 56.4 68.8 64.3 60.0
Tobacco
Clothing and Footwear 27.2 24.8 24.0 26.9 19.7 21.6 25.3 18.7 12.8 13.8 19.3 15.7 14.4 13.4 15.5 20.9 18.5 19.4 24.9 18.2 16.4
House Rent and Furnishing 7.9 5.8 6.1 8.8 4.9 5.9 7.3 8.4 5.2 4.7 4.6 3.8 5.0 4.7 5.4 6.4 6.4 7.8 11.1 7.6 9.7
Water 41.0 44.1 42.5 41.4 40.7 41.7 39.7 36.2 36.8 41.3 30.9 31.1 36.3 37.2 27.9 38.3 41.4 36.7 51.5 44.3 45.4
Electricity 64.0 59.2 58.3 58.6 54.2 55.1 56.1 50.7 51.2 53.7 43.7 47.4 53.1 49.5 42.7 56.6 62.1 54.7 67.4 59.9 61.7
Fuel 44.2 37.7 41.2 39.0 20.5 30.7 33.1 31.3 20.8 27.8 23.0 25.7 33.5 25.8 26.5 41.0 45.6 37.2 55.8 50.3 46.9
Medical Care 33.9 28.0 28.6 28.3 22.5 24.2 23.2 24.2 20.2 15.2 17.1 18.8 17.2 14.0 12.9 20.9 18.8 18.7 25.7 25.8 22.6
Transportation 39.7 40.0 40.8 36.0 20.7 26.5 30.5 27.4 12.6 23.7 16.1 19.8 23.0 24.4 19.9 36.0 38.9 33.0 49.7 49.5 42.0
Communication 21.1 16.5 19.7 23.6 13.7 15.0 19.7 17.1 12.5 11.9 10.7 10.4 8.3 8.1 9.6 16.4 13.2 16.0 19.6 16.8 18.1
Education, Recreation and
35.5 40.8 32.2 32.1 22.0 25.7 25.0 23.6 20.3 24.7 20.3 21.2 19.0 19.2 17.3 22.0 21.3 24.9 28.6 28.4 24.0
Culture
Restaurants & Cafés* 19.1 17.2 20.7 18.6 10.6 13.1 15.6 10.6 6.1 4.6 7.5 6.9 7.2 4.9 5.9 12.1 8.1 16.3 19.0 16.2 16.3
Personal Care & Effects 42.0 39.0 40.2 39.2 33.8 32.5 34.5 32.8 26.0 27.0 23.0 27.6 25.2 28.1 22.2 34.1 34.9 35.2 42.6 44.4 35.0
NCR 40.4 43.0 45.3 47.1 34.8 34.0 39.9 35.8 26.4 28.8 23.6 25.3 23.9 30.9 32.7 33.6 33.7 34.7 45.1 37.3 36.6
Tobacco
Water 66.6 73.6 67.2 70.4 69.8 68.7 67.0 60.8 61.2 63.1 45.4 48.7 57.2 61.4 51.8 63.5 69.4 61.0 77.0 67.3 67.7
Electricity 78.3 81.5 76.5 78.8 73.9 75.9 74.2 65.1 67.1 67.8 52.7 56.1 64.7 65.7 60.4 70.0 76.3 69.6 80.8 69.6 73.8
Fuel 66.0 60.8 58.8 63.0 34.4 47.0 50.8 44.1 20.9 43.8 27.5 33.8 42.8 49.7 48.2 64.5 66.8 57.2 76.0 65.5 64.6
Medical Care 26.6 22.6 22.5 28.9 18.8 19.6 26.4 19.2 16.4 13.3 8.5 15.8 2.7 6.3 12.1 13.4 10.4 12.5 19.9 19.6 12.5
Transportation 39.2 41.0 42.5 42.6 19.9 25.5 40.7 30.0 3.3 21.8 11.1 16.6 21.1 26.6 29.8 40.3 40.4 32.7 54.7 51.4 44.3
Communication 17.5 16.8 17.4 24.5 17.3 17.5 26.5 21.0 11.0 13.2 10.2 10.5 5.0 6.9 13.6 16.3 9.7 13.6 20.6 14.4 14.6
34.8 43.1 32.7 40.7 24.1 25.6 28.8 26.2 17.3 22.8 15.3 17.6 11.4 18.0 15.8 13.2 12.9 19.0 24.3 21.1 20.1
Culture

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Page 4
Philippines
Q1 2014 - Q1 2019
2014 2015 2016 2017 2018 2019
5. Confidence Index on Amount of Expenditures: Next Quarter (Continued)
AONCR 43.6 42.0 42.3 41.6 29.8 32.5 36.5 33.7 31.2 30.7 29.1 29.0 30.2 28.8 26.7 35.3 38.2 36.8 45.9 43.7 40.5
Tobacco
Water 25.0 25.7 27.0 23.3 22.5 24.7 22.6 20.9 21.5 27.7 21.8 20.1 23.2 22.0 12.9 22.6 23.8 22.6 36.7 31.0 32.3
Electricity 57.5 49.0 50.0 49.5 45.2 45.6 47.9 44.1 43.9 47.3 39.6 43.5 47.8 42.1 34.7 50.5 55.6 48.5 61.8 55.8 56.6
Fuel 40.2 33.5 38.1 34.7 18.0 27.8 29.9 29.0 20.8 24.9 22.2 24.2 31.8 21.5 22.6 36.8 41.9 33.5 52.0 47.4 43.6
Medical Care 35.9 29.5 30.2 28.2 23.6 25.4 22.3 25.6 21.2 15.7 19.4 19.7 21.2 16.1 13.2 23.0 21.1 20.0 27.0 27.1 24.8
Transportation 39.9 39.7 40.3 34.0 20.9 26.8 27.3 26.5 15.5 24.3 17.7 20.9 23.6 23.7 16.8 34.7 38.4 33.1 48.2 49.0 41.4
Communication 22.8 16.4 20.7 23.2 12.0 13.8 16.5 15.2 13.1 11.3 11.0 10.4 9.8 8.7 7.8 16.4 14.7 16.9 19.3 17.6 19.4
35.8 40.1 32.0 29.4 21.4 25.7 23.8 22.8 21.2 25.3 21.9 22.3 21.3 19.6 17.8 24.7 23.9 26.8 30.0 30.8 25.3
Culture
6. Percentage of households who consider the current quarter good time to buy
Philippines 24.1 24.6 24.9 24.0 28.4 30.3 27.4 30.2 29.6 28.9 28.2 30.2 31.5 33.9 30.2 31.9 31.6 30.7 26.4 24.5 26.5
Consumer Durables 24.9 25.6 25.4 24.9 28.4 29.1 26.9 32.2 30.6 30.9 28.5 32.1 32.6 34.6 31.3 31.8 31.7 32.2 28.9 25.3 26.6
Motor Vehicle 16.1 15.9 16.8 16.9 22.4 23.1 20.0 21.3 20.3 20.8 21.2 21.9 20.6 23.8 21.9 23.3 22.5 20.8 17.2 16.2 18.9
House & Lot 31.5 32.2 32.6 30.2 34.5 38.7 35.3 37.0 38.0 34.9 35.0 36.7 41.4 43.2 37.5 40.6 40.6 39.0 33.2 32.2 33.9
NCR 24.7 25.9 30.6 26.9 26.5 32.6 27.8 23.6 31.8 29.1 30.5 28.4 32.5 32.5 35.2 31.6 34.3 28.6 28.3 24.5 28.0
Motor Vehicle 13.7 14.5 19.4 15.9 15.6 20.6 17.5 13.3 20.3 19.5 18.1 16.5 15.7 17.5 22.1 16.4 18.1 15.7 14.2 11.6 15.5
House & Lot 29.0 31.2 35.9 32.4 30.8 40.2 33.6 27.2 37.8 33.4 38.1 33.7 42.1 39.5 43.8 36.5 43.0 35.5 35.0 33.3 36.9
AONCR 24.1 24.3 24.0 23.5 28.7 29.9 27.3 31.3 29.3 28.8 27.9 30.5 31.4 34.1 29.4 31.9 31.2 31.0 26.1 24.5 26.2
Motor Vehicle 16.4 16.1 16.4 17.1 23.5 23.5 20.4 22.6 20.3 21.1 21.7 22.8 21.4 24.8 21.9 24.3 23.2 21.6 17.7 16.9 19.4
House & Lot 31.9 32.4 32.1 29.8 35.0 38.5 35.6 38.6 38.1 35.1 34.5 37.2 41.3 43.8 36.5 41.2 40.2 39.6 32.9 32.0 33.4
7. Percentage of households who intend to buy in the next 12 months
Philippines 8.8 8.6 9.3 10.4 11.6 12.6 11.6 10.1 11.3 9.3 10.9 10.6 11.5 12.3 11.2 12.7 10.1 11.0 10.2 9.4 9.6
Motor Vehicle 5.3 4.9 6.2 6.7 8.1 9.2 7.9 6.3 7.5 5.7 7.2 6.6 7.1 8.5 7.6 8.6 6.2 6.9 6.3 5.2 5.8
House & Lot 8.6 8.2 9.0 9.9 9.5 11.9 11.0 8.8 9.9 8.0 10.3 9.5 10.5 11.0 9.8 11.2 9.1 9.3 9.2 9.3 9.0
NCR 7.3 6.8 9.5 8.0 6.9 9.3 10.9 8.0 9.7 10.1 9.2 8.2 9.1 9.7 10.6 11.9 11.2 11.0 11.8 9.6 11.5
Motor Vehicle 3.1 2.7 4.0 3.0 2.2 3.2 5.7 3.7 4.5 5.9 4.1 3.3 3.0 4.3 5.4 4.2 5.0 5.3 5.1 4.8 6.5
House & Lot 4.9 6.0 7.0 5.6 4.7 8.0 9.0 6.0 8.3 9.2 8.1 5.8 7.2 8.5 10.0 8.5 10.5 11.6 11.3 8.9 11.8
AONCR 9.0 8.9 9.2 10.8 12.3 13.1 11.7 10.4 11.5 9.2 11.2 10.9 11.8 12.7 11.2 12.8 10.0 11.0 9.9 9.3 9.3
Motor Vehicle 5.6 5.2 6.6 7.3 9.0 10.2 8.3 6.7 8.0 5.6 7.7 7.2 7.7 9.2 8.0 9.4 6.4 7.1 6.5 5.3 5.7
House & Lot 9.2 8.6 9.3 10.6 10.3 12.5 11.3 9.2 10.2 7.8 10.6 10.1 11.0 11.4 9.7 11.6 8.9 9.0 8.9 9.4 8.5

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Page 5
Philippines
Q2 2018 - Q1 2019
2018 2019
Q2 Q3 Q4 Q1
8. Percentage of the type of house and/or lot the households intends to buy in the next 12 months
Philippines
Single Detached 75.1 40.4 42.5 35.9
Residential Lot 1.6 31.7 24.7 34.3
Additional Types 23.3 27.9 32.8 29.8
Duplex 7.6 8.6 5.8 5.2
Townhouse 3.3 4.1 5.4 3.8
Apartment 3.6 2.0 3.5 3.9
Condominium Unit 1.1 1.3 1.1 1.5
Agricultural Lot 4.8 6.9 10.8 13.9
Commercial Lot 0.1 4.2 6.2 1.4
Others 2.9 0.8 0.1 0.1
NCR
Duplex 8.8 9.8 5.2 15.7
Townhouse 6.6 7.9 16.8 10.1
Apartment 5.6 6.2 10.2 4.9
Others 0.4 0.7 0.5 0.7
AONCR
Duplex 7.4 8.4 5.8 2.8
Townhouse 2.6 3.4 3.7 2.3
Apartment 3.2 1.2 2.4 3.7
Others 3.4 0.8 0.0 0.0
9. Percentage of the price of house and/or lot the households intends to buy in the next 12 months
Philippines
P450,000 and below 53.9 56.2 60.7 60.3
P450,001 to P1,700,000 35.7 33.7 24.5 28.1
P1,700,001 to P3,000,000 7.5 6.6 9.4 7.7
P3,000,001 to P4,000,000 1.4 1.2 2.8 2.4
P4,000,001 and above 1.5 2.2 2.6 1.5
NCR
P450,000 and below 38.3 32.6 25.5 33.0
P450,001 to P1,700,000 30.9 38.6 34.2 28.8
P1,700,001 to P3,000,000 18.3 18.1 22.0 23.2
P3,000,001 to P4,000,000 7.9 3.8 11.1 9.1
P4,000,001 and above 4.5 6.8 7.2 5.9
AONCR
P450,000 and below 57.1 61.0 66.0 66.4
P450,001 to P1,700,000 36.7 32.7 23.1 27.9
P1,700,001 to P3,000,000 5.2 4.3 7.5 4.2
P3,000,001 to P4,000,000 0.1 0.7 1.5 1.0
P4,000,001 and above 0.9 1.3 2.0 0.6

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Page 6 .
Philippines
Q1 2014 - Q1 2019
2014 2015 2016 2017 2018 2019
10. Indices on Selected Economic Indicators: Next 12 Months

Philippines
Unemployment Rate Index 41.4 54.5 59.0 56.6 44.5 56.6 48.1 36.9 31.1 22.6 -27.8 -9.3 -4.2 1.9 0.8 3.2 9.5 17.2 25.1 27.5 1.8
Interest Rate Index for Borrowing Money 37.6 31.9 38.3 41.8 31.3 34.0 32.0 35.6 30.5 21.2 4.1 17.7 3.5 8.9 8.7 20.1 23.7 22.5 33.7 34.8 21.9
Exchange Rate Index -14.5 -9.9 -7.3 -10.2 2.3 -8.8 -7.5 -9.0 -0.5 1.3 11.6 -11.7 -13.5 -12.3 -4.5 -15.7 -20.7 -15.3 -22.6 -22.5 -12.0
Change in Prices Index 48.9 46.6 45.5 47.1 35.2 38.7 41.0 37.1 32.8 35.0 21.3 30.8 33.9 34.5 33.1 39.7 46.1 45.4 51.9 47.8 44.6
Inflation Rate 8.4 6.1 6.1 5.8 3.8 3.7 4.2 4.2 3.3 3.4 1.8 2.7 3.1 2.9 3.2 3.6 4.7 4.2 5.0 5.1 4.7
NCR
Unemployment Rate Index 39.6 57.0 49.0 52.2 42.1 47.8 28.3 38.9 24.9 21.4 -48.9 -1.8 -5.9 -2.5 -17.0 -6.9 -2.4 10.9 20.5 21.3 -0.3
Interest Rate Index for Borrowing Money 24.2 23.1 27.0 31.3 28.2 21.7 26.4 30.1 22.7 16.3 -4.3 12.5 6.6 8.3 5.2 6.3 12.8 16.1 20.2 24.1 19.1
Exchange Rate Index -11.0 -10.0 -6.6 -0.3 10.7 10.9 5.3 0.7 6.1 10.4 16.9 5.7 -12.4 -15.2 -9.7 -16.6 -10.2 -2.9 -8.6 -3.0 4.5
Inflation Rate 7.1 5.7 5.8 6.7 4.6 4.5 4.9 4.8 3.8 3.8 2.4 3.1 3.5 4.2 3.4 3.7 4.9 4.0 5.4 5.6 4.0
AONCR
Unemployment Rate Index 41.6 54.0 60.6 57.3 44.9 58.0 51.3 36.5 32.1 22.8 -24.4 -10.6 -3.9 2.7 3.7 4.9 11.4 18.2 25.8 28.5 2.1
Interest Rate Index for Borrowing Money 39.8 33.3 40.2 43.5 31.8 36.0 32.9 36.4 31.8 22.0 5.4 18.5 3.1 8.9 9.3 22.3 25.4 23.5 35.9 36.5 22.3
Exchange Rate Index -15.1 -9.9 -7.5 -12.0 0.8 -12.4 -9.9 -10.7 -1.8 -0.5 10.6 -14.9 -13.7 -11.8 -3.6 -15.5 -22.6 -17.4 -24.9 -25.9 -15.0
Inflation Rate 8.6 6.3 6.2 5.7 3.7 3.6 4.1 4.1 3.2 3.4 1.8 2.7 3.0 2.8 3.2 3.6 4.7 4.3 4.9 5.1 4.9
11. Percentage of OFW Households by Type of Use of OFW Remittances

Philippines
Food and other household needs 97.0 96.1 95.9 96.1 98.5 97.2 96.6 95.9 97.3 97.1 95.0 96.4 98.1 97.0 98.1 97.2 96.4 94.2 94.4 98.5 95.5
Education 68.9 69.5 67.1 72.2 65.6 71.0 71.0 69.5 70.0 68.3 67.6 70.0 68.2 68.0 70.3 62.6 69.5 64.1 63.0 67.0 65.7
Medical expenses 62.9 64.6 56.3 56.3 56.6 63.3 63.1 59.7 56.1 55.5 55.2 55.2 53.0 60.8 52.5 54.1 54.6 46.9 47.4 52.6 46.3
Debt payments 45.9 48.9 42.7 42.1 41.9 43.1 45.3 42.7 46.5 43.6 39.8 42.8 31.3 43.1 40.2 42.0 41.4 22.9 24.6 21.9 21.4
Savings 45.4 46.6 39.7 42.1 39.4 49.7 38.2 41.4 43.4 38.6 39.6 46.8 36.9 45.9 42.1 42.3 38.3 33.9 32.7 35.5 33.0
Purchase of Appliances/Consumer Durables 22.9 28.4 24.5 25.4 25.4 24.8 23.1 21.8 21.9 21.6 20.2 22.2 22.5 25.3 24.5 23.4 24.1 21.1 19.2 18.7 19.2
Purchase of House 13.0 12.5 11.3 10.6 12.3 11.6 11.5 11.9 11.0 11.0 10.2 13.0 12.4 16.4 14.5 14.2 15.9 8.7 11.8 10.4 10.2
Investment 8.0 9.1 6.3 6.8 5.1 6.7 6.2 6.6 6.5 4.5 3.8 10.0 6.2 4.4 8.5 5.9 4.2 5.2 4.2 5.1 3.8
Purchase of Car / motor vehicle 7.3 8.2 8.4 6.8 5.1 8.4 7.6 6.4 8.7 7.2 6.4 8.8 6.4 7.4 6.2 8.5 8.6 7.0 9.4 6.4 10.2
Others 2.9 0.0 0.7 1.4 1.5 1.7 5.0 4.0 4.5 2.3 4.6 2.8 3.9 1.2 2.7 3.0 2.7 4.9 3.5 0.4 3.8
NCR
Education 72.4 74.2 68.3 75.2 67.9 74.1 71.8 69.9 70.5 67.9 69.8 71.8 69.8 69.7 69.9 65.5 68.4 59.1 61.8 68.0 67.4
Debt payments 47.3 50.2 41.9 42.0 41.6 46.2 41.2 38.2 47.5 46.3 42.4 45.4 36.0 45.7 38.2 48.3 45.6 22.8 26.9 17.0 18.9
Savings 58.1 56.6 52.5 56.3 55.6 62.1 48.4 56.8 52.2 48.8 50.2 59.5 48.9 57.2 51.6 52.2 51.8 42.1 41.4 44.5 38.3
Investment 5.4 9.5 4.9 6.6 3.8 6.3 4.7 4.2 5.8 3.7 1.2 8.4 3.6 2.4 9.7 5.9 2.6 3.5 4.3 4.5 4.0
Others 1.8 0.0 0.7 1.4 0.3 1.7 2.2 3.9 3.6 2.8 3.5 2.6 3.6 0.5 3.2 2.0 1.0 4.1 3.8 1.0 0.6

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Page 7
Philippines
Q1 2014 - Q1 2019
2014 2015 2016 2017 2018 2019
11. Percentage of OFW Households by Type of Use of OFW Remittances (Continued)

AONCR
Education 65.5 64.2 65.9 69.1 63.4 67.7 70.3 69.1 69.5 68.6 65.3 68.5 66.9 66.4 70.6 60.4 70.2 67.3 63.8 66.3 64.6
Debt payments 44.5 47.5 43.5 42.3 42.1 39.8 49.3 47.1 45.5 41.4 37.1 40.7 27.3 40.7 41.6 37.3 38.6 22.9 23.0 25.6 23.1
Savings 32.7 35.5 27.9 27.2 23.9 36.2 28.3 26.8 34.5 30.4 28.6 36.3 26.5 35.0 34.8 34.7 29.1 28.7 26.6 29.3 29.5
Investment 10.7 8.7 7.5 7.0 6.5 7.2 7.7 8.8 7.3 5.2 6.5 11.4 8.5 6.2 7.4 6.0 5.3 6.2 4.1 5.2 3.7
Others 3.9 0.0 0.6 1.5 2.6 1.8 7.7 4.0 5.5 1.9 5.7 2.9 4.2 2.2 6.1 3.7 3.9 5.5 3.2 0.4 5.6
12. Distribution of Households with OFW

Philippines
Number of Respondent Households with OFW 589 587 624 581 627 619 607 574 576 571 530 523 504 468 504 491 492 476 465 483 462
Percentage Over Total Sample Respondents 10.2 10.0 10.5 9.3 11.0 10.4 10.5 9.8 10.2 9.9 9.4 9.0 9.4 8.7 9.3 9.1 9.1 8.9 8.6 8.9 8.6
NCR
AONCR
13. Number of households that Received Remittances

Philippines
Number of Households that Received Remittances 560 560 592 558 602 580 563 531 553 555 500 500 485 434 482 471 478 446 449 470 443
Percentage Over Total Households with OFW 95.1 95.4 94.9 96.0 96.0 93.7 92.8 92.5 96.0 97.2 94.3 95.6 96.2 92.7 95.6 95.9 97.2 93.7 96.6 97.3 95.9
NCR
AONCR
14. Index on Experience of households that Received Remittances

Philippines 46.0 53.9 42.3 47.2
NCR 42.7 56.5 34.0 44.6
AONCR 48.0 52.1 48.5 48.9

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Page 8
Philippines
Q1 2014 - Q1 2019
2014 2015 2016 2017 2018 2019
15. Percentage Distribution of Respondents by Income Group

Philippines
Less than P10,000 46.0 46.2 46.7 47.8 46.5 43.6 48.5 47.3 47.7 43.5 46.9 45.7 43.6 41.9 43.0 44.4 37.8 42.5 39.6 36.4 28.0
P10,000 – P29,999 38.4 38.8 36.9 38.2 37.8 39.6 37.0 38.7 38.2 41.4 38.8 39.5 38.5 41.5 39.7 38.0 42.9 43.0 44.5 44.4 43.5
P30,000 – and over 15.6 15.0 16.5 14.0 15.7 16.8 14.5 14.0 14.0 15.1 14.2 14.9 17.8 16.6 17.3 17.6 19.3 14.5 15.9 19.2 28.5
Total 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
NCR
Less than P10,000 29.0 30.0 28.3 31.2 31.1 24.2 32.5 31.5 31.8 28.5 29.0 28.6 26.1 24.7 27.6 27.5 19.5 27.8 24.2 22.5 17.1
P10,000 – P29,999 48.4 48.0 45.8 48.2 46.3 50.1 46.2 47.9 49.2 51.5 50.0 50.9 48.1 51.6 47.5 47.2 52.5 53.5 55.2 53.3 52.2
P30,000 – and over 22.6 22.0 25.9 20.6 22.6 25.7 21.3 20.5 19.1 20.0 21.0 20.5 25.7 23.8 24.9 25.3 28.0 18.7 20.6 24.2 30.7
Total 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
AONCR
Less than P10,000 62.8 61.9 64.9 64.7 61.6 62.0 63.8 62.2 63.8 59.7 66.1 63.5 62.0 58.8 58.0 60.2 56.2 56.7 54.8 49.7 38.0
P10,000 – P29,999 28.5 30.0 28.0 27.9 29.5 29.6 28.2 30.0 27.2 30.4 26.9 27.5 28.5 31.7 32.1 29.5 33.2 32.9 34.1 36.0 35.6
P30,000 – and over 8.8 8.2 7.1 7.3 8.9 8.4 8.0 7.9 9.0 9.9 7.0 9.0 9.5 9.5 9.9 10.3 10.6 10.4 11.0 14.2 26.4
Total 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
16. Total Sample Households and Response Rate

Philippines
Number of Sample Households 5870 6027 6106 6389 5818 6151 5894 6020 5805 5961 5810 6036 5574 5631 5597 5581 5569 5517 5580 5609 5562
Number of Respondents 5762 5875 5948 6234 5705 5973 5754 5845 5673 5754 5627 5836 5357 5375 5430 5410 5400 5339 5408 5411 5396
Response Rate 98.2 97.5 97.4 97.6 98.1 97.1 97.6 97.1 97.7 96.5 96.9 96.7 96.1 95.5 97.0 96.9 97.0 96.8 96.9 96.5 97.0
NCR
Response Rate 98.7 97.9 97.9 97.9 98.8 98.3 98.3 97.7 98.7 96.9 96.7 96.4 96.5 95.2 97.2 96.1 97.9 97.3 97.1 96.2 96.5
AONCR
Response Rate 97.7 97.0 96.9 97.3 97.3 96.0 97.0 96.5 96.7 96.1 97.0 96.9 95.7 95.7 96.8 97.7 96.1 96.3 96.8 96.7 97.5
* For Q3 2018, only respondents who indicated their family income are included in the calculation of the percentage distribution of respondents by income group.
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Page 9
Philippines
Q1 2014 - Q1 2019
2014 2015 2016 2017 2018 2019
17. Savings Outlook of Households

Philippines
Percentage of Households with Savings 28.9 30.3 26.9 25.7 31.6 33.9 28.9 30.2 32.7 33.2 33.1 32.6 34.9 35.8 36.8 35.6 36.6 37.4 32.5 32.8 36.6
Less than P10,000 17.8 17.2 16.3 15.2 19.5 20.7 18.1 18.4 19.9 20.5 22.1 21.3 21.7 23.8 24.3 23.7 22.8 23.7 19.0 19.8 21.6
P10,000-P29,999 38.2 41.5 34.3 33.3 40.2 41.2 36.9 38.4 41.7 40.5 41.0 38.8 43.1 42.8 44.1 41.5 44.4 45.1 38.4 35.9 39.6
P30,000 and over 60.8 64.9 66.7 67.7 68.9 76.9 69.6 70.1 74.5 70.6 73.5 72.7 74.7 69.5 70.1 72.3 68.6 74.3 67.8 62.4 49.9
Percentage of Households with Savings by Type of Saving Institution

Bank 65.3 65.2 66.7 69.4 68.5 68.8 70.1 66.6 68.1 65.9 66.5 66.6 67.6 64.9 65.8 65.4 63.6 61.0 66.2 68.0 63.9
House* 22.9 23.5 23.3 29.6 39.0 38.3 42.8 40.1 43.0 47.0 42.6 46.7 39.6 44.9 42.4 45.6 44.3 47.8 46.5 46.2 43.3
Additional Types 11.8 11.4 10.0 23.1 26.0 22.6 31.6 32.7 26.1 26.4 27.2 34.6 22.9 28.6 28.7 38.8 29.7 34.3 32.7 26.5 27.4
Cooperatives 4.9 5.6 5.7 11.2 11.4 9.9 14.5 12.1 9.7 10.1 12.0 12.0 9.7 11.1 9.8 15.2 11.2 13.6 14.1 10.4 13.6
Paluwagan 2.5 1.4 1.3 4.3 4.2 2.9 6.2 6.0 4.6 4.5 4.2 5.3 3.9 5.0 5.3 5.7 5.5 7.4 6.3 5.9 6.2
Credit/Loans and Other Associations 4.2 3.0 2.8 6.7 9.3 9.2 9.6 13.6 10.1 11.5 8.8 13.6 6.4 11.4 12.0 15.4 11.2 11.9 10.4 9.0 6.3
Others 0.2 1.4 0.2 0.9 1.1 0.6 1.3 1.0 1.7 0.3 2.2 3.7 2.9 1.1 1.6 2.5 1.8 1.4 1.9 1.2 1.3
Percentage of Households with Savings by Type of Saving Institution: By Income Group
Less than P10,000

Bank 30.5 31.9 32.4 38.8 35.3 33.5 44.8 36.2 39.9 35.0 35.7 32.1 37.8 34.0 32.4 34.9 32.5 34.8 41.5 41.9 42.2
House* 46.1 46.6 48.7 47.3 54.8 56.8 55.6 54.4 55.7 61.4 60.0 59.3 53.5 56.1 58.9 60.0 59.7 52.5 53.5 54.6 51.1
Cooperatives 8.6 8.9 9.7 15.5 11.2 11.8 13.8 14.0 9.7 9.1 12.2 12.3 14.4 10.9 11.5 14.5 10.6 13.5 14.4 12.2 13.5
Paluwagan 4.4 2.4 2.1 5.0 4.1 3.2 6.4 7.2 4.6 6.0 4.1 5.0 5.3 5.3 5.7 8.6 7.4 9.0 9.3 5.5 4.9
Others 0.0 2.0 0.5 0.9 1.2 0.6 1.8 0.8 1.1 0.2 2.7 2.2 2.5 0.9 1.6 3.4 2.0 0.9 1.6 0.9 1.5
P10,000-P29,999
Bank 64.9 65.2 64.3 69.7 70.4 71.0 71.8 69.2 70.3 67.9 70.4 70.8 64.8 65.1 65.2 66.0 58.9 60.1 62.6 67.6 60.4
House* 24.6 23.5 24.9 31.6 37.4 39.9 43.2 39.6 44.1 46.2 41.2 46.6 43.6 48.2 42.4 44.7 48.5 51.1 49.6 49.0 46.3
Cooperatives 4.7 5.8 6.6 10.2 10.6 11.0 15.8 12.1 8.6 11.4 12.2 11.5 9.5 10.1 10.9 14.8 10.9 14.5 13.1 10.1 13.8
Paluwagan 2.5 1.7 1.4 5.2 5.7 3.0 8.1 7.7 6.1 5.1 5.1 7.7 5.0 6.1 6.8 6.7 5.7 8.3 6.6 6.9 7.0
Others 0.3 1.7 0.3 0.5 0.5 0.4 1.4 1.2 2.0 0.3 1.4 3.5 2.6 1.0 1.4 2.2 1.7 1.5 2.0 1.4 0.8
P30,000 and over

Bank 91.7 90.3 91.3 92.0 91.3 90.8 89.9 89.9 92.0 87.4 91.6 89.9 90.5 90.1 90.8 89.2 90.4 87.6 90.2 86.3 76.2
House* 3.6 6.0 5.2 13.9 29.1 23.6 31.3 28.2 29.2 36.8 27.2 36.0 25.8 30.9 30.5 35.1 28.7 37.8 36.6 36.8 37.0
Cooperatives 2.6 2.8 2.2 9.2 12.6 7.4 13.5 10.3 11.4 9.0 11.7 12.3 6.7 12.7 7.2 16.2 12.0 12.1 15.2 9.6 13.3
Paluwagan 1.0 0.2 0.7 2.5 2.4 2.5 3.5 2.3 2.4 2.3 3.1 2.3 1.7 3.4 3.0 2.3 3.9 4.3 3.8 5.1 5.9
Others 0.2 0.3 0.0 1.3 1.7 1.0 0.8 0.7 1.9 0.5 3.1 5.3 3.5 1.4 1.9 2.3 1.6 1.6 2.1 1.2 1.8
Percentage of Households who could set aside Savings in the Current Quarter 38.3 35.7 34.9 35.6 40.9 42.4 36.2 41.5 38.9 39.3 41.6 41.1 45.1 44.9 43.0 43.6 41.8 43.3 37.3 40.2 41.0
Less than P10,000 28.3 24.2 25.7 25.8 31.8 30.6 26.3 30.3 27.2 27.7 32.3 30.1 33.8 33.9 32.5 33.0 30.9 31.9 25.4 29.5 25.5
P10,000-P29,999 46.9 45.1 43.0 44.1 48.6 51.3 45.1 51.5 47.8 48.2 49.9 49.2 53.4 52.6 50.4 50.4 47.3 50.7 43.0 42.8 44.7
P30,000 and over 65.8 67.2 64.7 70.4 66.0 74.3 68.2 72.7 75.7 67.5 70.4 75.0 75.6 72.2 67.9 72.5 69.0 71.0 66.5 64.5 54.2
*kept at home

www.bsp.gov.ph
page 10
Philippines
Q1 2014 - Q1 2019
2014 2015 2016 2017 2018 2019
17. Savings Outlook of Households (Continued)

Philippines
Percentage of Income Allocated to Savings
Less than 5% 27.1 32.2 34.0 29.7 31.4 31.6 37.8 32.2 31.7 31.6 28.2 27.1 26.4 30.4 30.7 35.6 32.7 36.5 36.5 36.2 35.3
5% to 9% 29.8 31.5 30.4 32.4 32.3 31.9 31.9 32.2 29.3 31.5 31.7 30.5 32.3 31.0 29.0 27.3 28.1 31.9 32.0 30.9 33.2
10% and over 43.2 36.3 35.6 38.0 36.2 36.5 30.3 35.6 38.9 36.9 40.0 42.4 41.4 38.6 40.3 37.1 39.2 31.6 31.6 32.8 31.5
10% to 14% 23.8 20.8 20.5 22.2 21.2 21.9 19.8 21.2 22.1 21.6 23.7 24.1 25.0 23.1 21.9 20.2 22.2 18.9 21.1 20.7 20.2
15% to 19% 6.4 5.8 4.6 5.0 5.3 6.0 3.9 5.0 6.3 5.5 5.1 7.6 5.5 5.1 6.9 5.6 5.4 5.1 4.1 3.7 3.7
20% to 24% 7.1 5.4 6.0 5.8 5.2 5.5 3.8 5.4 5.5 5.7 6.7 6.1 6.9 6.4 6.1 6.7 5.7 4.5 3.2 4.7 4.5
25% and over 5.9 4.3 4.5 5.0 4.5 3.1 2.8 4.0 5.0 4.1 4.5 4.6 4.0 4.0 5.4 4.6 5.9 3.1 3.2 3.7 3.1
Percentage of Income Allocated to Savings: By Income Group
Less than P10,000

Less than 5% 40.1 54.5 55.2 49.6 47.7 49.3 56.0 47.8 46.8 51.7 40.0 43.1 42.3 47.1 46.4 51.6 52.1 54.6 56.9 58.0 59.1
5% to 9% 25.8 25.0 23.8 30.8 25.9 25.9 26.7 29.5 27.1 25.4 32.7 28.1 30.6 26.8 24.9 23.8 25.4 32.8 30.5 27.2 25.6
10% and over 34.0 20.5 21.0 19.6 26.4 24.8 17.3 22.7 26.1 22.9 27.3 29.0 27.0 26.0 28.7 24.6 22.5 12.7 12.6 14.9 15.3
10% to 14% 19.0 10.8 12.6 13.1 16.2 15.9 13.2 14.4 16.2 14.2 17.6 15.7 17.3 16.6 16.0 13.1 14.4 8.8 8.4 9.8 7.9
15% to 19% 3.0 2.4 1.3 1.1 1.9 2.8 0.5 2.9 3.3 3.3 3.0 5.3 3.5 2.8 3.0 2.7 1.8 1.1 1.3 1.3 0.5
20% to 24% 6.0 3.3 3.7 2.4 3.9 3.6 2.0 2.4 3.7 2.4 3.6 4.0 3.7 3.9 6.2 5.5 2.9 2.0 1.1 1.1 3.6
25% and over 6.0 4.0 3.4 3.0 4.4 2.5 1.6 3.0 2.9 3.0 3.1 4.0 2.5 2.7 3.5 3.3 3.4 0.8 1.8 2.7 3.3
P10,000-P29,999
Less than 5% 27.4 27.7 33.7 25.5 29.3 29.9 36.1 30.3 31.9 30.4 28.1 24.4 24.5 28.8 31.5 34.9 33.0 34.8 35.7 36.9 36.0
5% to 9% 32.8 36.5 33.7 36.3 35.6 38.2 33.9 33.3 32.3 35.6 31.7 33.9 35.7 36.1 33.2 31.6 31.3 34.2 34.8 34.0 37.3
10% and over 39.8 35.9 32.5 38.2 35.2 32.0 30.0 36.3 35.8 34.0 40.2 41.7 39.9 35.0 35.3 33.5 35.6 31.0 29.4 29.1 26.7
10% to 14% 22.7 21.0 19.8 22.7 22.5 19.7 19.9 21.9 22.2 21.1 25.4 25.8 27.1 22.9 19.0 19.8 22.1 19.6 21.0 20.7 19.1
15% to 19% 5.9 6.1 4.9 5.4 5.2 5.6 4.0 4.6 4.8 4.7 5.4 7.3 4.3 4.9 7.3 4.7 4.9 5.0 2.8 2.3 3.0
20% to 24% 6.1 5.2 4.8 4.9 4.0 4.0 3.1 5.7 4.2 4.9 6.2 5.3 4.9 4.3 4.9 4.9 4.4 3.6 3.0 4.1 2.6
25% and over 5.1 3.6 3.0 5.2 3.5 2.7 3.0 4.1 4.6 3.3 3.2 3.3 3.6 2.9 4.1 4.1 4.2 2.8 2.6 2.0 2.0
P30,000 and over

Less than 5% 12.4 15.7 12.8 11.9 14.6 15.6 17.2 13.8 12.8 11.3 11.8 13.5 13.3 15.5 12.9 19.7 14.9 15.2 18.3 17.7 24.4
5% to 9% 29.8 30.8 32.5 28.1 35.4 29.0 35.3 34.2 27.1 31.0 30.4 27.3 29.4 27.2 26.5 25.0 25.8 26.2 28.6 29.3 32.1
10% and over 57.8 53.5 54.7 60.0 50.0 55.4 47.5 52.1 60.1 57.7 57.8 59.2 57.4 57.2 60.5 55.3 59.2 58.6 53.1 53.0 43.6
10% to 14% 30.6 30.8 29.4 32.6 25.5 31.5 27.9 29.2 29.2 30.6 29.4 30.8 29.8 30.1 32.6 28.4 29.3 31.2 33.2 29.3 26.7
15% to 19% 10.7 8.9 7.6 9.1 9.8 10.0 8.0 8.5 12.6 9.5 7.7 10.8 9.0 7.8 10.2 10.0 9.1 10.9 8.9 7.9 5.7
20% to 24% 9.7 7.9 10.1 11.4 8.7 9.6 7.5 9.2 9.9 10.8 12.2 10.1 12.6 12.4 8.1 10.4 10.2 9.9 5.5 8.6 6.9
25% and over 6.8 5.9 7.6 6.9 6.0 4.3 4.1 5.2 8.4 6.8 8.5 7.5 6.0 6.9 9.6 6.5 10.6 6.6 5.5 7.2 4.3

www.bsp.gov.ph
page 11
Philippines
Q1 2014 - Q1 2019
2014 2015 2016 2017 2018 2019

NCR
Less than P10,000 14.0 13.8 13.0 13.5 11.6 14.2 16.8 16.4 24.5 16.1 17.7 16.2 13.9 18.6 15.2 18.9 23.1 18.9 15.4 19.1 17.7
P10,000-P29,999 32.3 34.5 31.1 32.5 30.6 29.8 33.9 36.1 40.0 38.3 38.1 39.9 35.4 40.3 41.2 36.9 38.9 37.2 30.4 31.6 36.7
P30,000 and over 71.7 69.9 69.8 70.4 72.2 70.7 70.6 66.0 74.9 71.3 72.2 74.3 76.8 76.0 75.8 76.9 69.0 76.1 67.7 63.3 58.9

Bank 75.5 74.7 76.8 79.2 83.7 82.3 81.0 75.3 76.6 75.0 76.8 79.6 77.4 77.3 78.6 79.3 73.0 72.1 77.0 79.1 73.9
House* 18.3 18.9 17.2 25.2 33.4 32.0 40.3 38.2 42.6 45.3 34.3 45.2 35.3 45.5 38.2 44.3 41.0 51.2 45.7 49.0 44.2
Cooperatives 2.8 4.0 3.4 8.5 10.6 7.5 13.2 8.9 9.3 10.1 10.9 10.4 5.1 9.1 6.2 14.0 9.6 10.6 14.4 9.1 12.7
Paluwagan 2.0 1.5 1.4 5.4 5.8 3.4 8.0 7.3 5.8 4.5 5.0 7.2 3.2 7.4 5.2 4.7 5.0 6.4 7.0 8.0 9.3
Others 0.3 0.0 0.3 0.6 0.8 0.6 1.5 0.9 2.5 0.0 2.4 5.8 2.6 1.4 1.7 1.1 1.1 1.6 2.0 1.3 1.1
Less than P10,000

Bank 31.6 39.0 40.6 48.9 62.0 56.3 62.3 44.4 54.9 50.0 47.3 50.8 48.0 51.3 49.0 53.6 43.1 43.2 51.7 56.0 47.6
House* 49.6 44.9 44.3 52.6 45.0 55.2 61.7 56.3 52.1 56.5 51.3 51.5 53.0 62.2 57.8 63.6 61.0 71.6 65.2 61.6 63.4
Cooperatives 6.0 9.3 8.5 18.2 14.0 7.3 13.0 14.6 10.7 12.3 13.3 9.1 8.0 10.1 10.8 17.9 8.9 16.2 15.7 5.6 11.0
Paluwagan 6.8 3.4 2.8 11.7 12.0 3.1 9.7 14.6 6.0 4.3 9.3 10.6 9.0 14.3 10.8 12.1 6.5 8.1 18.0 10.4 8.5
Others 0.0 0.0 0.9 0.7 1.0 0.0 3.2 0.7 1.9 0.0 4.0 3.8 5.0 1.7 1.0 2.1 0.8 2.0 2.2 1.6 2.4
P10,000-P29,999
Bank 67.8 67.6 66.4 74.2 77.7 75.9 78.2 72.8 73.3 71.3 72.2 76.3 68.1 70.3 71.0 72.5 61.5 67.9 70.0 77.0 68.6
House* 25.6 25.4 26.0 30.4 36.0 39.5 43.5 40.8 44.7 48.0 38.9 47.0 43.8 52.9 42.2 47.2 50.8 53.6 47.4 52.3 45.2
Cooperatives 3.3 3.9 4.0 7.5 8.7 8.6 13.7 8.4 8.0 10.8 11.2 9.9 5.6 7.8 6.6 12.2 9.2 10.7 13.8 8.8 12.6
Paluwagan 2.0 2.3 1.9 6.1 7.7 4.4 10.8 9.2 7.8 6.0 5.7 9.4 4.0 9.1 6.4 6.3 6.1 7.7 7.2 8.6 10.4
Others 0.4 0.0 0.5 0.4 0.5 0.2 1.4 1.3 2.9 0.0 1.4 5.0 1.3 0.9 1.5 1.1 0.7 1.5 2.2 1.3 0.2
P30,000 and over

Bank 93.8 91.9 92.0 93.5 93.7 92.4 90.8 89.8 92.6 88.4 92.7 92.5 91.5 91.8 92.3 92.8 91.6 89.5 91.6 88.6 84.2
House* 3.4 4.9 4.8 11.5 28.6 21.6 29.2 28.4 34.6 37.8 22.6 40.9 24.2 33.0 30.1 36.1 26.3 39.7 39.1 41.5 39.8
Cooperatives 1.5 2.7 1.9 6.7 11.5 6.7 12.7 7.4 10.3 8.6 9.6 11.5 4.2 10.4 4.9 14.5 10.2 8.0 14.8 10.4 13.1
Paluwagan 0.9 0.2 0.7 2.8 2.8 2.7 4.5 2.3 2.9 2.6 2.5 3.3 1.5 3.8 3.0 1.2 3.5 3.8 4.0 6.6 8.4
Others 0.2 0.0 0.0 0.9 1.1 1.0 0.9 0.5 2.5 0.0 3.2 7.5 3.4 1.9 2.0 0.8 1.5 1.6 1.6 1.2 1.7
Less than P10,000 18.1 21.3 24.1 21.9 22.6 22.0 26.2 28.8 29.3 22.1 24.0 22.2 20.5 23.4 22.2 25.7 29.1 24.9 20.0 22.4 19.9
P10,000-P29,999 39.2 40.9 44.8 41.8 43.3 39.3 43.7 46.2 43.9 42.7 42.6 48.0 38.6 44.2 49.4 44.8 44.3 41.7 35.1 37.1 40.4
P30,000 and over 72.7 73.2 74.2 69.1 77.4 71.3 73.0 72.8 74.5 68.6 72.4 77.1 75.6 77.9 73.3 79.7 69.6 68.4 68.1 62.9 64.4
*kept at home

www.bsp.gov.ph
page 12
Philippines
Q1 2014 - Q1 2019
2014 2015 2016 2017 2018 2019

NCR
Less than 5% 23.1 25.5 24.2 25.7 26.3 25.3 34.2 30.2 33.9 29.1 26.8 23.0 20.5 26.1 27.2 33.1 28.2 32.7 31.2 32.2 31.1
5% to 9% 31.6 32.9 33.4 31.5 36.7 35.0 33.4 31.4 30.8 33.5 31.6 32.3 33.6 33.8 29.9 27.3 28.3 30.1 31.8 32.8 33.9
10% and over 45.4 41.6 42.4 42.7 37.0 39.7 32.4 38.4 35.3 37.4 41.7 44.7 45.8 40.1 42.9 39.7 43.4 37.2 36.9 35.0 35.1
10% to 14% 26.8 23.7 23.8 26.5 21.6 24.5 21.3 23.2 22.5 22.1 24.8 26.6 27.6 23.5 23.2 22.3 22.9 22.6 25.1 22.2 22.2
15% to 19% 8.7 8.3 6.5 6.4 7.2 7.0 5.2 6.4 5.7 5.4 5.0 8.2 7.0 6.3 8.6 7.0 7.4 7.5 5.1 4.5 5.3
20% to 24% 6.3 6.5 7.7 5.8 4.6 5.5 3.7 5.1 3.8 6.2 8.0 6.5 7.1 6.8 5.7 6.9 6.7 4.9 3.4 5.8 5.1
25% and over 3.6 3.1 4.4 4.0 3.6 2.7 2.2 3.7 3.3 3.7 3.9 3.4 4.1 3.5 5.4 3.5 6.4 2.2 3.3 2.5 2.5
Less than P10,000

Less than 5% 45.1 55.4 45.7 55.3 47.6 44.8 60.0 50.0 55.2 55.3 46.8 51.1 43.4 52.7 51.4 56.1 56.3 54.6 49.2 57.3 49.5
5% to 9% 27.8 27.4 28.2 26.7 30.7 26.9 28.8 26.2 29.4 25.3 29.9 31.0 37.5 34.5 27.0 24.1 27.2 32.2 35.5 28.7 32.6
10% and over 27.1 17.2 26.1 18.0 21.7 28.3 11.2 23.8 15.3 19.6 23.4 17.9 19.1 12.8 21.6 19.8 16.5 13.2 15.3 14.0 18.0
10% to 14% 19.4 9.1 14.9 13.6 14.3 20.7 8.4 14.8 12.1 13.2 14.4 15.2 13.2 7.4 12.8 12.3 9.9 8.8 14.5 9.8 9.5
15% to 19% 4.9 2.9 2.7 1.0 2.1 2.1 0.4 3.5 0.8 3.7 1.0 1.1 2.0 2.0 2.0 0.5 2.6 2.4 0.0 1.4 0.0
20% to 24% 1.4 2.9 5.3 1.9 2.1 3.4 1.2 2.0 1.2 1.1 5.5 1.1 2.6 2.0 4.1 4.2 2.0 1.5 0.0 1.4 5.3
25% and over 1.4 2.3 3.2 1.5 3.2 2.1 1.2 3.5 1.2 1.6 2.5 0.5 1.3 1.4 2.7 2.8 2.0 0.5 0.8 1.4 3.2
P10,000-P29,999
Less than 5% 28.1 26.9 29.5 26.4 30.3 28.9 34.7 32.6 37.3 32.5 30.7 23.6 21.5 27.9 32.3 36.2 34.2 34.7 34.5 37.3 36.3
5% to 9% 34.5 36.7 36.4 36.3 37.0 42.7 34.7 31.3 33.0 37.3 32.8 34.2 36.2 39.4 32.0 30.7 29.8 32.0 35.1 34.6 37.0
10% and over 37.3 36.4 34.2 37.4 32.6 28.4 30.6 36.2 29.8 30.3 36.5 42.1 42.2 32.7 35.8 33.2 36.0 33.2 30.4 28.1 26.7
10% to 14% 22.8 21.0 20.5 24.1 20.4 19.4 21.8 22.4 21.5 20.0 25.1 26.6 29.2 22.8 18.3 19.9 22.4 22.4 21.7 20.7 19.1
15% to 19% 6.6 8.4 5.7 6.1 6.2 5.0 4.6 5.8 3.5 3.4 4.2 8.0 5.8 6.1 8.6 5.3 5.7 6.7 2.9 2.2 4.1
20% to 24% 4.7 5.6 5.7 3.6 2.9 2.2 1.9 4.4 2.3 4.6 5.1 5.0 3.6 2.3 5.0 4.1 4.6 3.0 3.1 3.7 2.2
25% and over 3.2 1.4 2.3 3.6 3.1 1.8 2.3 3.6 2.5 2.3 2.1 2.5 3.6 1.5 3.9 3.9 3.3 1.1 2.7 1.5 1.3
P30,000 and over

Less than 5% 10.8 12.8 11.5 11.2 13.5 16.0 18.8 15.0 15.5 11.2 12.0 11.2 13.0 16.0 13.3 20.5 13.1 16.4 20.5 16.8 22.2
5% to 9% 29.4 30.5 31.8 27.2 38.7 29.1 34.5 34.9 28.3 31.3 30.6 29.7 29.8 26.6 28.2 24.9 26.8 25.5 25.8 31.9 30.8
10% and over 59.9 56.7 56.8 61.6 47.9 54.8 46.7 50.2 56.2 57.6 57.4 59.1 57.2 57.4 58.6 54.6 60.2 58.1 53.8 51.3 47.0
10% to 14% 33.6 32.1 30.4 35.7 25.8 31.0 27.9 29.3 30.6 29.8 29.0 31.0 30.2 29.2 32.7 28.8 27.2 30.9 33.5 28.3 27.8
15% to 19% 12.1 10.1 8.7 9.4 10.2 10.5 8.8 8.9 12.0 9.7 7.9 11.2 9.6 7.8 10.6 11.4 10.9 11.9 10.1 8.6 7.5
20% to 24% 9.5 9.0 10.6 10.7 7.6 9.5 7.3 8.0 7.8 11.2 13.2 11.0 11.9 13.9 7.0 11.0 10.7 10.2 5.1 10.1 8.0
25% and over 4.7 5.5 7.1 5.8 4.3 3.8 2.7 4.0 5.8 6.9 7.3 5.9 5.5 6.5 8.3 3.4 11.4 5.1 5.1 4.3 3.7

www.bsp.gov.ph
page 13
Philippines
Q1 2014 - Q1 2019
2014 2015 2016 2017 2018 2019


AONCR
Less than P10,000 18.1 17.5 16.5 15.4 20.1 21.1 18.2 18.6 19.5 20.8 22.4 21.7 22.1 24.1 24.9 24.0 22.8 24.0 19.2 19.8 21.8
P10,000-P29,999 39.7 43.3 35.1 33.5 42.7 44.3 37.7 39.0 42.2 41.1 41.8 38.5 45.1 43.4 44.7 42.6 45.8 47.2 40.4 37.0 40.2
P30,000 and over 56.4 62.8 65.0 66.6 67.6 79.8 69.1 71.7 74.3 70.4 74.1 72.1 73.8 66.9 67.6 70.4 68.4 73.7 67.9 62.1 48.2

Bank 52.4 53.7 52.6 55.4 52.6 54.8 57.0 56.7 56.5 54.4 53.4 49.7 55.6 50.8 51.1 50.3 52.4 49.7 56.1 56.6 53.7
House* 28.8 29.0 31.9 36.0 44.9 44.8 45.9 42.3 43.5 49.2 53.2 48.6 44.8 44.1 47.3 47.0 48.4 44.4 47.2 43.3 42.4
Cooperatives 7.7 7.5 9.0 15.0 12.3 12.4 16.2 15.7 10.2 10.1 13.5 14.0 15.2 13.4 13.9 16.5 13.1 16.7 13.8 11.8 14.5
Paluwagan 3.1 1.3 1.2 2.6 2.5 2.3 4.0 4.4 2.9 4.4 3.3 3.0 4.7 2.3 5.4 6.8 6.0 8.5 5.7 3.9 3.1
Others 0.0 3.0 0.1 1.2 1.4 0.7 1.2 1.0 0.6 0.8 2.0 1.0 3.3 0.7 1.5 4.1 2.6 1.1 1.9 1.1 1.6
Less than P10,000

Bank 30.1 29.4 29.8 34.5 28.3 28.2 37.3 32.9 30.7 29.2 31.6 26.2 35.0 29.0 28.2 28.8 29.0 31.8 39.0 36.6 40.4
House* 44.8 47.1 50.2 45.0 57.3 57.2 52.9 53.7 58.0 63.2 63.0 61.7 53.6 54.3 59.2 58.8 59.3 45.6 50.6 52.0 46.9
Cooperatives 9.4 8.7 10.0 14.3 10.5 12.9 14.2 13.8 9.1 7.8 11.8 13.3 16.2 11.1 11.6 13.3 11.2 12.6 14.1 14.7 14.3
Paluwagan 3.5 2.1 1.8 2.2 2.1 3.2 5.0 4.2 3.7 6.7 2.3 3.1 4.3 2.7 4.5 7.5 7.7 9.4 7.1 3.6 3.7
Others 0.0 2.7 0.3 0.9 1.3 0.7 1.1 0.8 0.6 0.3 2.3 1.7 1.9 0.7 1.7 3.7 2.5 0.5 1.4 0.6 1.2
P10,000-P29,999
Bank 60.8 62.0 61.2 61.9 62.5 65.7 63.0 64.3 65.1 62.5 67.3 60.3 60.5 58.1 57.7 57.9 55.6 50.1 54.4 56.6 50.7
House* 23.2 21.1 23.4 33.6 38.9 40.3 42.9 38.0 42.9 43.1 45.3 45.8 43.2 41.9 42.6 41.6 45.6 48.0 52.1 45.2 47.6
Cooperatives 6.6 8.3 10.3 14.9 12.8 13.4 18.6 17.1 9.6 12.3 13.8 14.7 14.7 13.3 16.6 17.9 13.0 19.3 12.3 11.6 15.2
Paluwagan 3.3 1.1 0.7 3.8 3.5 1.5 4.3 5.7 3.1 3.6 4.0 4.5 6.5 2.0 7.4 7.1 5.2 9.2 5.8 4.8 3.1
Others 0.0 4.0 0.0 0.7 0.5 0.5 1.6 1.1 0.6 0.8 1.2 0.6 4.5 1.0 1.3 3.5 3.0 1.6 1.8 1.5 1.4
P30,000 and over

Bank 84.9 85.7 88.5 87.4 85.1 86.8 87.4 90.2 90.7 85.4 88.0 83.6 87.6 85.7 86.6 80.7 87.4 84.1 87.8 82.7 66.1
House* 4.1 9.1 6.5 21.2 30.5 28.9 36.5 27.7 16.9 34.7 41.5 24.3 30.3 25.1 31.6 32.5 35.0 34.3 32.4 29.1 33.3
Cooperatives 6.2 3.2 3.6 16.6 15.5 9.3 15.6 16.8 13.7 10.1 18.3 14.3 14.1 18.9 13.4 20.3 16.5 19.3 16.0 8.3 13.7
Paluwagan 1.4 0.0 0.7 1.3 1.1 2.0 1.2 2.3 1.1 1.5 4.9 0.0 2.2 2.3 3.2 4.7 4.9 5.3 3.3 2.8 2.7
Others 0.0 1.3 0.0 2.6 3.4 1.0 0.6 1.2 0.5 1.5 2.8 0.0 3.8 0.0 1.6 5.7 1.9 1.4 2.8 1.2 1.9
Less than P10,000 29.1 24.4 25.8 26.1 32.6 31.1 26.3 30.4 27.1 28.1 32.9 30.6 34.6 34.5 33.2 33.6 31.0 32.4 25.8 30.0 25.9
P10,000-P29,999 49.0 46.2 42.6 44.7 49.9 54.5 45.5 52.9 48.9 49.7 52.0 49.6 57.4 54.8 50.6 51.8 48.1 53.1 45.0 44.1 45.6
P30,000 and over 63.0 64.7 59.4 71.0 61.6 75.7 66.2 72.6 76.0 67.1 69.5 74.2 75.6 69.9 65.6 69.5 68.8 71.8 66.0 65.0 52.2
*kept at home

www.bsp.gov.ph
page 14
Philippines
Q1 2014 - Q1 2019
2014 2015 2016 2017 2018 2019


AONCR
Less than 5% 31.2 39.9 47.2 34.4 36.6 37.6 42.0 34.2 29.1 34.5 29.9 32.0 32.4 34.7 34.4 38.4 37.7 40.1 41.6 40.1 39.4
5% to 9% 28.0 29.9 26.4 33.5 27.8 28.9 30.1 33.1 27.5 29.1 31.9 28.3 30.9 28.2 28.0 27.3 28.0 33.6 32.2 29.1 32.7
10% and over 40.8 30.2 26.4 32.2 35.6 33.5 27.9 32.7 43.3 36.4 38.3 39.7 36.7 37.2 37.6 34.4 34.3 26.3 26.2 30.8 28.0
10% to 14% 20.7 17.4 15.9 17.2 20.9 19.4 18.0 19.1 21.6 21.0 22.6 21.1 22.3 22.7 20.5 18.0 21.4 15.4 17.2 19.2 18.4
15% to 19% 4.0 3.0 2.1 3.3 3.4 5.1 2.3 3.5 7.1 5.7 5.3 6.9 3.9 4.0 5.1 4.2 3.0 2.8 3.0 3.0 2.1
20% to 24% 7.9 4.1 3.8 5.7 5.9 5.5 4.1 5.8 7.5 5.2 5.4 5.6 6.6 6.0 6.6 6.5 4.6 4.2 3.0 3.7 3.9
25% and over 8.2 5.7 4.6 6.0 5.4 3.5 3.5 4.3 7.1 4.5 5.0 6.1 3.9 4.5 5.4 5.7 5.3 3.9 3.0 4.9 3.6
Less than P10,000

Less than 5% 38.8 54.1 58.6 47.5 47.7 50.4 54.0 46.8 42.4 50.2 37.8 40.5 42.0 45.6 45.1 49.9 50.8 54.6 59.1 58.2 62.2
5% to 9% 25.2 24.1 22.2 32.4 24.3 25.6 25.7 31.0 25.9 25.4 33.7 27.1 28.7 24.8 24.4 23.7 24.9 33.0 29.1 26.7 23.3
10% and over 36.0 21.8 19.2 20.1 27.9 23.9 20.3 22.3 31.8 24.4 28.5 32.3 29.2 29.6 30.6 26.4 24.3 12.3 11.8 15.2 14.5
10% to 14% 18.9 11.4 11.8 12.9 16.8 14.7 15.6 14.3 18.4 14.6 18.6 15.8 18.5 19.1 16.8 13.4 15.7 8.7 6.7 9.8 7.4
15% to 19% 2.5 2.3 0.8 1.1 1.8 3.0 0.6 2.6 4.6 3.2 3.6 6.6 3.9 3.0 3.3 3.5 1.6 0.5 1.6 1.2 0.7
20% to 24% 7.3 3.5 3.1 2.5 4.5 3.6 2.3 2.6 5.0 3.0 3.0 4.9 3.9 4.5 6.8 6.0 3.2 2.2 1.4 1.0 3.0
25% and over 7.3 4.6 3.5 3.6 4.8 2.6 1.8 2.8 3.8 3.6 3.3 5.0 2.9 3.0 3.7 3.5 3.8 0.9 2.1 3.2 3.4
P10,000-P29,999
Less than 5% 26.5 28.8 41.0 24.0 28.0 31.0 38.3 27.5 23.0 27.0 24.1 25.8 28.1 30.0 30.4 33.3 31.3 35.0 37.2 36.4 35.7
5% to 9% 30.5 36.1 29.1 36.2 33.6 33.0 32.8 35.8 31.1 32.8 29.9 33.3 35.0 31.9 34.8 32.9 33.5 37.0 34.5 33.4 37.5
10% and over 43.0 35.1 29.9 39.9 38.4 36.0 28.8 36.6 45.9 40.2 46.0 41.0 36.9 38.0 34.9 33.7 35.3 27.9 28.3 30.3 26.9
10% to 14% 22.6 21.0 18.6 20.7 25.1 20.0 17.1 21.4 23.5 23.0 25.8 24.3 24.4 23.0 20.1 19.6 21.7 16.0 20.2 20.8 19.2
15% to 19% 4.9 2.9 3.7 4.4 3.8 6.3 3.1 3.1 7.0 6.9 7.3 6.0 2.3 3.5 5.6 3.9 3.9 2.7 2.7 2.4 1.9
20% to 24% 7.9 4.6 3.4 7.0 5.5 6.1 4.7 7.3 7.3 5.5 7.8 5.7 6.5 6.8 4.7 5.9 4.2 4.3 2.9 4.5 3.1
25% and over 7.6 6.6 4.2 7.8 4.0 3.6 3.9 4.8 8.1 4.8 5.1 5.0 3.7 4.7 4.5 4.3 5.5 4.9 2.5 2.6 2.7
P30,000 and over

Less than 5% 17.1 24.7 18.6 14.0 17.8 14.5 13.0 11.0 7.0 11.7 11.2 19.3 14.1 14.4 12.1 17.6 19.6 13.2 14.4 19.0 27.3
5% to 9% 31.1 31.8 35.7 30.6 25.5 28.5 37.7 32.4 24.6 30.3 29.9 21.4 28.1 28.7 22.0 25.2 23.1 27.3 33.7 25.4 33.7
10% and over 51.9 43.4 45.8 55.5 56.7 56.9 49.4 56.6 68.4 57.9 59.0 59.4 57.8 56.9 65.9 57.1 57.2 59.6 52.0 55.6 39.0
10% to 14% 22.0 26.6 24.8 23.6 24.8 32.6 27.8 28.9 26.2 32.4 30.6 30.2 28.6 32.4 32.4 27.1 35.2 31.7 32.7 31.0 25.3
15% to 19% 6.7 5.2 3.1 8.3 8.3 8.8 5.6 7.5 13.9 9.0 6.7 9.9 7.3 8.0 9.3 6.7 4.5 9.3 6.7 6.7 3.4
20% to 24% 10.4 4.5 7.8 13.4 12.1 9.8 8.0 12.1 14.4 10.1 9.0 7.8 14.6 8.5 11.0 9.0 9.0 9.3 6.3 6.3 5.4
25% and over 12.8 7.1 10.1 10.2 11.5 5.7 8.0 8.1 13.9 6.4 12.7 11.5 7.3 8.0 13.2 14.3 8.5 9.3 6.3 11.6 4.9

www.bsp.gov.ph
page 15
Philippines
Q2 2018 - Q1 2019
2018 2019
Q2 Q3 Q4 Q1
18. Debt Situation of Households

Philippines
Percentage of Households with Outstanding Loan 37.6 31.7 32.5 30.7
Percentage Distribution of Households with Outstanding Loan

by Area
NCR 41.2 41.4 36.7 34.3
AONCR 58.8 58.6 63.3 65.7
by Income Group
Less than P10,000 45.4 40.6 39.2 26.3
P10,000-P29,999 42.3 45.6 42.7 44.2
P30,000 and over 12.3 13.8 18.1 29.5
Monthly Income Per Capita (in Pesos)* 19,793 20,418 23,669 27,045
Monthly Amortization of Debt Per Capita (in Pesos) 5,338 8,857 5,756 10,249
Debt to Income Ratio (in Pesos) 27.0 43.4 24.3 37.9
Types of Loan Availed

Credit Card 3.4 3.2 2.8 2.4
Salary 10.6 10.6 8.1 8.7
Real Property 2.1 1.7 2.3 3.0
Car 2.0 3.6 4.0 4.3
Motorcycle 4.7 4.8 4.4 4.6
Appliance 1.9 3.1 2.2 3.1
Cash 68.1 67.6 72.4 70.5
Food items 15.4 10.5 13.4 11.6
Alcoholic Drinks and Tobacco 0.3 0.4 0.2 0.4
Others 3.6 3.5 2.1 2.9
Types of Collaterals Used for Loan

None 87.6 88.6 89.6 91.9
Land 1.0 1.7 1.0 1.2
Real Property 1.9 1.8 1.1 1.1
Vehicle 1.3 1.7 0.9 1.3
Sangla ATM Account 2.8 2.6 3.1 2.2
Jewelry 1.0 0.2 0.7 0.2
Farm Equipment 0.2 0.2 0.1 0.1
Farm Animal 0.5 0.6 0.8 0.2
Harvest 1.6 1.2 1.7 0.7
Stock Certificate / PDC 0.5 0.3 0.4 0.3
Others 1.6 1.3 0.8 0.8
Loan Provider
Bank 9.6 10.5 11.4 10.7
Government Institution 8.3 10.0 6.7 8.7
In-house Financing 2.8 3.5 5.6 5.4
Company 3.3 4.7 2.8 4.4
Cooperative 7.0 6.6 6.8 6.4
Lending Company 17.9 21.1 20.2 22.2
Pawnshop 0.3 0.4 0.2 0.2
Individual Money Lender 15.4 15.7 9.8 18.8
Relatives / Friends 22.7 21.4 26.8 20.6
Digital Credit 1.6 2.6 1.8 2.0
Others 11.1 3.6 7.8 0.6
*Starting Q1 2019, monthy income is computed as the total income of respondent and spouse net of any OFW remittances sent to the family.
www.bsp.gov.ph
page 16
Philippines
Q2 2018 - Q1 2019
2018 2019
Q2 Q3 Q4 Q1
18. Debt Situation of Households (Continued)

Philippines
Principal Loan Amount (in Pesos)
Mean 69,063 59,901 89,486 79,973
Median 10,000 10,000 10,000 10,000
Sum 167,063,230 120,161,033 189,351,932 157,466,674
Monthly Amortization (in Pesos)

Mean 9,476 15,301 10,070 17,595
Median 2,280 2,000 2,300 2,400
Sum 19,511,106 27,342,545 18,136,076 30,878,942
Loan Payment Status

Ahead 8.2 10.0 5.5 6.2
On Schedule 75.4 75.7 78.3 77.4
Behind 16.3 14.3 16.2 16.4
Annual Interest Rate of Loan

Mean 20.3 36.6 30.9 33.0
Median 10.0 14.4 13.6 13.0
Debt Situation Outlook for the Next Quarter by Type of Loan

Credit Card -61.4 -29.7 -5.5 -32.2
Salary -70.3 -50.6 -54.7 -47.6
Real Property -67.4 -69.7 -43.9 -46.3
Car -57.5 -54.9 -45.2 -57.8
Motorcycle -66.0 -41.1 -55.3 -44.6
Appliance -64.1 -45.5 -40.7 -53.4
Cash -51.8 -35.8 -25.8 -44.1
Food items -14.7 -25.7 -28.8 -38.3
Alcoholic Drinks and Tobacco -66.7 -7.7 -12.5 0.0
Others -45.8 -21.5 -31.1 -59.0
Total -60.7 -49.2 -42.3 -49.0
Debt Situation Outlook for the Next 12 months by Type of Loan

Credit Card -67.6 -29.4 -4.6 -18.4
Salary -67.9 -45.8 -53.3 -46.2
Real Property -76.7 -62.5 -42.1 -45.5
Car -57.5 -47.9 -39.5 -63.9
Motorcycle -69.1 -37.8 -52.2 -46.8
Appliance -72.5 -33.3 -33.3 -38.5
Cash -46.3 -25.3 -18.8 -38.3
Food items -25.4 -11.8 -27.4 -28.7
Alcoholic Drinks and Tobacco -33.3 0.0 -12.5 -20.0
Others -42.5 -10.0 -18.6 -48.5
Total -62.2 -42.1 -38.7 -48.5
Index on Debt Payment Experience 0.6 4.9 -2.7 -0.8

www.bsp.gov.ph
page 17

Consumer Expectations Survey: First Quarter 2019

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Consumer Expectations Survey1

First Quarter 2019

Overall Consumer Outlook Index

http://www.roymorgan.com/morganpoll/consumer-confidence, http://www.tradingeconomics.com/, and

A quarterly survey conducted by the Bangko Sentral ng Pilipinas

A quarterly survey conducted by the Bangko Sentral ng Pilipinas

NCR and AONCR Consumer Outlook

Current Quarter Consumer Outlook Index for NCR and AONCR

Expenditures on Basic Goods and Services

Confidence Index: Expenditures Next Quarter

A quarterly survey conducted by the Bangko Sentral ng Pilipinas

Fewer respondents expected increased spending on food, non-alcoholic and

By geographical location, the expenditure outlook is expected to decline in

Expenditures on Big-Ticket Items: Consumer Durables, Motor Vehicle, and Housing

By area, consumers’ views on buying conditions across all big-ticket items in

In particular, the percentage of households, who plan to buy a real property

A quarterly survey conducted by the Bangko Sentral ng Pilipinas

Percentage of Households with Savings

Among households with savings, almost two-thirds (63.9 percent) of

A quarterly survey conducted by the Bangko Sentral ng Pilipinas

Selected Economic Indicators

Expenditures of Overseas Filipino Workers (OFWs)

A quarterly survey conducted by the Bangko Sentral ng Pilipinas

By geographical area, a higher percentage of OFW households in the NCR

In the last 12 months, the number of OFW households continued to find it

Respondent and/or Spouse Debt Situation10

The debt-to-income ratio12 of surveyed respondents rose to 37.9 percent for

Majority (70.5 percent) of those with outstanding loans preferred to avail

A quarterly survey conducted by the Bangko Sentral ng Pilipinas

Lending companies became the top provider of loans to surveyed

About the Survey

Of the sample size, 5,396 households responded to the survey, equivalent to a

A quarterly survey conducted by the Bangko Sentral ng Pilipinas

A quarterly survey conducted by the Bangko Sentral ng Pilipinas

2014 2015 2016 2017 2018 2019

1. Overall Consumer Outlook: Composite Index

Details may not add up due to rounding.

2014 2015 2016 2017 2018 2019

3. Consumer Outlook Indices on Economic and Family Condition: Next Quarter

A quarterly survey conducted by the Bangko Sentral ng Pilipinas

2014 2015 2016 2017 2018 2019

A quarterly survey conducted by the Bangko Sentral ng Pilipinas

A quarterly survey conducted by the Bangko Sentral ng Pilipinas

A quarterly survey conducted by the Bangko Sentral ng Pilipinas

10. Indices on Selected Economic Indicators: Next 12 Months

11. Percentage of OFW Households by Type of Use of OFW Remittances

A quarterly survey conducted by the Bangko Sentral ng Pilipinas

11. Percentage of OFW Households by Type of Use of OFW Remittances (Continued)

12. Distribution of Households with OFW

13. Number of households that Received Remittances

14. Index on Experience of households that Received Remittances

A quarterly survey conducted by the Bangko Sentral ng Pilipinas

15. Percentage Distribution of Respondents by Income Group

16. Total Sample Households and Response Rate

17. Savings Outlook of Households

Percentage of Households with Savings by Type of Saving Institution

Percentage of Households with Savings by Type of Saving Institution: By Income Group

Less than P10,000