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Philippine consumer sentiment weakens in Q4


20:04, December 15, 2011

MANILA, Dec. 15 (Xinhua) -- Philippine consumer sentiment in the final quarter fell to negative 20.6 percent from negative 18.7 percent in the third on back wake of devastation wrought by typhoons Nesat and Nalgae in September, the country's central bank reported Thursday.

"The Filipino consumer was affected more by the after effects of typhoons than by such external shocks as the sovereign debt of the euro zone countries and lack of growth in the U.S. economy," Central Bank Assistant Governor Maria Cyd Tuano-Amador said in a briefing.

The increased pessimism among Filipino consumers mirrored sentiment felt elsewhere in the region including those in China, Thailand, India, Singapore and Japan.

She said this was not the first time that consumer sentiment dipped in the last part of the year, the same having dipped in the fourth quarter in 2007 when the survey was first conducted and again two years later in 2009.

Amador also said the survey had some rather curious results, such as the marked rise in consumer intent to spend more down the line even as consumers insist on adopting a sour outlook.

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wende at 2011-12-1671.251.41.*
It is not safe for Chinese tourists to travel to the Philippines because of what happened to HK tourists who died and without sympathy from the Philippine president. He gave a cold snicker when he faced a grave diplomatic situation. Also, China should not go ahead with any commercial dealing with the Philippines until after settlement with the South China Sea issue. Who would be encouraged to befriend China when China"s friends and foes are treated equally?

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