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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
PhilippinesPhilippines Business Confidence climbed to 0.0% in June 2026
FMPMonthlyReleased July 2026
Philippines Business Confidence climbed to 0.0% in June 2026, released July 2026, up 25.2% from May's -25.2% reading. The print came in hotter than the -45.0% consensus, a hotter print than forecasters anticipated. Business Confidence has now risen for 3 consecutive months.
Latest Release
0
Actual
-45
Consensus
-25.2
Previous
Median Absolute Error
±2.6 percentage points
across last 10 releases
Last Call
Jun 2026
Predicted: -49.4
Actual: -25.2
Error: -24.2
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| EUR/USD | ▲ Direct | +0.30 | FOREX | Moves with | → View |
| USD/JPY | ▼ Inverse | −0.30 | FOREX | Moves against | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Moves with | → View |
| S&P 500 | ▲ Direct | +0.30 | INDEX | Moves with | → View |
| BTC/USD | ▲ Direct | +0.30 | CRYPTO | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Business Confidence (Philippines) was reported at 0% in July 2026. This beat the market consensus of -45% by 45%. The reading rose from the previous value of -25.2%. Trailing 12-month context per ETL data through June 2026.
WHY IT MATTERS
The trailing three releases averaged -10.43%, down from the prior three at 32.97%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with BTC/USD (Watch). A secondary relationship exists with USD/JPY, negatively correlated (Watch). Over the last 10 releases, the Sigmacast model's median absolute error is 2.6%.
WHAT TO WATCH NEXT
The next release is scheduled for August 28, 2026. Same-country events in the next 14 days include Inflation Rate YoY (Aug 5) and Unemployment Rate (Aug 6).
Auto-generated from current model state · Refreshes on each release · Last update June 2026.
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Business Confidence - PH
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About Business Confidence — Philippines
DEFINITION
Business Confidence is a financial indicator that measures the level of optimism or pessimism among business owners and managers about the current and future state of the economy. It is often used as a gauge of overall economic health and can impact investment decisions, hiring practices, and consumer spending. A high level of business confidence indicates a positive outlook and potential for growth, while a low level may signal caution and potential economic downturn. This indicator is closely monitored by economists, policymakers, and investors to assess the overall sentiment and potential direction of the business sector.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jun 2026): actual 0 %, consensus -45 %. Prior reading (Jun 2026): 0 %. Before that (Jun 2026): 0 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a higher reading versus the latest print, with the 3-month outlook diverging from that direction. The 1-month and 3-month horizons disagree, suggesting a mixed signal. Trend-driven dynamics are the primary headwind in the current projection.
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EXPECTED ZONE
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Economic Calendar - PH Events
| Friday, July 31, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 08:00 | PH | Business Confidence | 0 | -25.2 | -45 | -22.50 | Low |
| Monday, August 3, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 00:30 | PH | S&P Global Manufacturing PMI | 50.9 | 51.2 | 50.25 | Low | |