Businesses, consumers turn cautious in Q2 — BSP

Businesses and consumers have grown more cautious in the second quarter of 2025, but consumers are pinning their hopes on better conditions in the months ahead, according to separate surveys by the Bangko Sentral ng Pilipinas (BSP).

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Results of the BSP's Business Expectations Survey (BES) showed that overall confidence for the current quarter softened, with the confidence index (CI) slipping to 28.8 percent from 31.2 percent in the first quarter.

Firms attributed their less upbeat outlook to global trade uncertainties, the expected post-election business slowdown and seasonal factors such as the sugar off-milling period.

Business sentiment for the third quarter also declined, with the CI falling to 39.3 percent from 45.4 percent previously. Firms cited lingering concerns over US reciprocal tariffs and weaker demand during the rainy season as key drags on optimism.