NewsMacroSix in 10 Filipino Voters Say Economy Is Worse Off Than a Decade Ago, PUBLiCUS Survey Finds

Six in 10 Filipino Voters Say Economy Is Worse Off Than a Decade Ago, PUBLiCUS Survey Finds

Author: Bworldonline·

Key Takeaways

  • •Six in 10 registered voters said the Philippines' overall condition has worsened over the past decade, with that view most widespread in Mindanao at 67% and the Visayas at66%.
  • •Half of voters view the country's current state unfavorably and 48% believe it is heading in the wrong direction, though both figures declined slightly from the previous quarter.
  • •Pessimism about the economy intensified, with 46% of respondents anticipating a downturn in the coming quarter, up from 41%, while official data showed growth slowing to 2.3%, inflation rising to 7.2%, and unemployment at 5.3%.
  • •Household-level sentiment proved more resilient, as 40% of respondents reported improved personal finances over the past decade and 44% expect near-term improvement in their financial situation.
  • •Nearly half of voters, 47%, identify as anti-administration, with the sentiment peaking at 57% in Mindanao, while only 21% in the National Capital Region identified as pro-administration.
Six in 10 Filipino Voters Say Economy Is Worse Off Than a Decade Ago, PUBLiCUS Survey Finds

Six in 10 registered voters believe the Philippines' overall condition has deteriorated over the past decade, with that sentiment most pronounced among respondents in Mindanao (67%) and the Visayas (66%), according to an October survey by PUBLiCUS Asia, Inc. As a quarterly tracker, the poll offers a recurring read on public mood that complements the government's official economic statistics.

In a statement issued on Thursday, the polling firm noted that perceptions are more mixed at the household level: 40% of respondents said their personal financial circumstances had improved compared with 10 years ago, while 38% said their household finances had worsened.

As for the nation's current state, half of voters, or 50%, view the country's present situation unfavorably — a slight decline from 53% in the previous quarterly reading, the pollster said. More than one in five voters (21%) regard the current national state as favorable, unchanged from the prior quarter.

Asked about the country's general direction, 48% of respondents said the Philippines is heading the wrong way, down slightly from 51% previously. Conversely, the share of citizens who believe the nation is moving in the right direction edged up to 28% from 26%.

"Expectations for the national economy have weakened," the research firm noted.

Official statistics provide context for those views. Data from the Philippine Statistics Authority showed economic growth slowed to 2.3% year on year in the second quarter. September inflation surged to 7.2% on in transport, utility, and food prices, while the August unemployment rate stood at 5.3%, representing 2.77 million jobless Filipinos nationwide. Taken together, the PSA figures and PUBLiCUS's survey results give analysts two independent lenses on the same period: hard economic data on one side and voter perception on the other.

Against that backdrop, about 46% of voters anticipate an economic downturn in the coming quarter, up from 41% in the prior period, while those expecting positive economic developments dipped to 28% from 29%.

In contrast to the national economic anxiety, household financial expectations remain comparatively resilient. About 44% of voters anticipate an improvement in their personal financial situation in the near term, though this was slightly down from 46%. Roughly one in four respondents (25%) expect their household finances to deteriorate, up from 22%. Subsequent PUBLiCUS quarterly readings and upcoming official releases — including the PSA's third-quarter growth and October inflation reports — will show whether that gap between national and household outlooks narrows.

Anti-Administration Sentiment

Meanwhile, nearly half of voters, or 47%, currently identify as anti-administration, while 38% consider themselves neutral, describing themselves as neither pro- nor anti-administration. Support for the government remains constrained, with the National Capital Region recording 21% of respondents identifying as pro-administration. Anti-administration sentiment was most concentrated in Mindanao, at 57%.

Attitudes toward the political opposition were similarly lukewarm: 43% of voters identified as neither pro- nor anti-opposition, while 35% expressed an anti-opposition stance.

Overall, anxiety remains a dominant theme in the public's disposition. Although the share of voters expressing a pessimistic outlook fell to 68% from 72%, anxiety was reported by 27% of respondents, making it more prevalent than optimism, which was cited by 23%.

The noncommissioned survey — conducted at the polling firm's own initiative rather than on behalf of a client — was carried out from Oct. 1 to 4 among 1,581 registered voters, with a margin of error of ±3 percentage points.

— Erika Mae P. Sinaking, BusinessWorld