The Philippine Statistics Authority (PSA) is currently conducting a consumer expectation survey as a means of determining the country’s economic condition, including an overall view of household finances and income.

“Consumer spending and saving decisions have [an] important influence in determining the course of the national economy,” explained Provincial Statistics Officer Antonet B. Catubuan.

She added, the data gathered can help in formulating economic forecasts and determining inflation rates, interest rates, and exchange rates.

Around 30 households will be surveyed in Barangay Buenavista in Nabas and Barangay Panipiason in Madalag. Respondents will be questioned on topics including family finances, current economic conditions, savings outlook, among others.

A survey conducted in October 2018 found third quarter confidence saw a decline, which, according to the PSA, contributed to “higher prices of commodities, lower salary/income, increases in household expenses, no increases in income, and an upsurge in the number of the unemployed.”/WDJ