Filipinos are now less pessimistic because of falling oil and food prices and on news that the global recession will not greatly have an impact on the Philippine economy, a survey of the Bangko Sentral showed yesterday.

?The consumer expectations survey showed that respondents were generally more confident with their outlook but the confidence indices are still negative,? Bangko Sentral Deputy Gov. Diwa Guinigundo said.

The central bank conducted its quarterly consumer expectations survey from Jan. 12 to Jan. 23 this year, covering 5,487 households across the country. It had a response rate of 96.4 percent.

The consumer expectations survey complements the business expectations survey that monetary authorities take into account in determining policy and controlling inflation.

Bangko Sentral director Iluminada Sicat said those that have expressed optimism expected improvements in their finances, lower debt and employment among members of the households.

The overall consumer outlook index was at negative 25.7 percent for the first quarter of the year, lower than the negative 40.3 percent reported in the fourth quarter of last year.

All income groups surveyed are still pessimistic over the country?s economic condition, with the index at negative 44.6 percent from negative 69.9 percent in the fourth quarter.

Most expect the peso to depreciate and inflation, interest rates and unemployment to increase.

Only respondents from the high income group, or those earning P30,000 or higher a month per household, are optimistic about their family financial condition. The high and the middle-income groups, or those earning P10,000 to P29,999 per household per month, are optimistic about their family income.

The number of respondents that say now is a good time to buy consumer durables, vehicles and houses and lots have increased at 17.5 percent. Only 7.5 percent said they intended to buy in the next 12 months. Eileen A. Mencias