Firms optimistic on PH economy

Wikipedia Photo

MANILA — Bangko Sentral ng Pilipinas’ Business Expectations survey showed that businesses were slightly more optimistic for the country’s second quarter economic prospects.

Results of the survey showed a slight improvement in local companies’ confidence driven by strong consumer demand and optimism in the Aquino administration.

Business confidence index increased to 49.2 percent from 45.2 percent recorded during the previous quarter.

The said index was computed through the difference between the percentage of respondents that were optimistic and pessimistic.

“More businesses are optimistic about the country’s economic prospects for the second quarter of the year compared to that in the previous quarter,” the BSP said in a statement.

According to Rosabel Guerrero, head of the BSP’s economic statistics group, the slight improvement is an indication of how sustained the country’s strong economy is.

“We could say that growth could be sustained but we really can’t say if it would be higher or lower,” she said as quoted in a report for the Philippine Daily Inquirer.