A new survey reveals that Filipinos are still downbeat on the economy, as a greater number expect it to deteriorate rather than recover in the coming quarter.
Results of the nationwide survey conducted by Pahayag, the corporate social responsibility initiative of Publicus Asia Inc., showed that 41 percent of respondents expect the economy to worsen in the third quarter, outnumbering the 29 percent who believe conditions will improve.
The gloomy outlook comes as the economy expanded by just 2.8 percent in the first quarter of 2026, the slowest pace in five years, according to the Philippine Statistics Authority (PSA).
Gross domestic product (GDP) growth has also eased for three consecutive quarters, from 3.9 percent in the third quarter of 2025 to 3 percent in the fourth quarter before slipping further in the January-to-March period.
Despite the subdued outlook for the broader economy, Pahayag noted that Filipinos remain relatively optimistic about their own finances.
The survey showed that 46 percent expect their household financial condition to improve in the next quarter, although 22 percent believe it will remain unchanged.
‘While there is growing optimism among Filipinos on short-term national economic prospects and individual household finances, priorities remain affected by concerns on governance, financial security, and affordability,’ Pahayag said.
The survey found that corruption emerged as the top issue respondents want President Ferdinand Marcos Jr. to address, cited by 29 percent of the respondents.
The Philippine economy ranked second at 7 percent, followed by poverty, prices, and inflation at 6 percent.
Education, wages, jobs, public healthcare, and peace, and order garnered 4 percent, while illegal drugs and rising petroleum prices were cited by 3 percent.
At the household level, respondents identified witnessing corrupt practices in government offices as their biggest concern, cited by 18 percent.
This was followed by the slow recovery of the Philippine economy at 10 percent, the inability to purchase basic commodities due to rising prices and the inability to afford basic needs at 9 percent.
Other concerns included insufficient wages and limited access to healthcare at 7 percent, as well as job loss and becoming a crime victim at 6 percent.
The survey also showed that Filipinos remain pessimistic about the country’s longer-term economic trajectory.
About 63 percent of respondents said the Philippine economy is somewhat worse or much worse today than it was a decade ago.
This contrasted with respondents’ assessment of their own financial condition. The survey found that 42 percent said their household finances are better today than in 2016, while 36 percent believe their financial situation has worsened.
‘In summary, corruption has become the nation’s primary public concern, surpassing all other challenges, even as daily life remains heavily influenced by different economic issues,’ Pahayag stated.