At the same time, Fitch—another rating agency—recently affirmed the Philippines’ investment BBB rating, also with a stable outlook. Recent demand indicators continue to point to overall firm domestic growth prospects in the near term. In fact, results of the Q1 2019 survey-based consumer and business sentiment showed an improved outlook.
The consumer outlook index registered an all-time largest quarter-on-quarter increase since the start of the nationwide survey in Q1 2007. At the same time, the confidence index for business showed marked improvement after declining for four consecutive quarters.