Quantcast
Latest Stories

BSP: Businesses retain upbeat expectations

By

Philippine businesses felt better off this quarter compared with that of the same period last year as the encouraging outlook on the economy helped raise income expectations.

According to the Bangko Sentral ng Pilipinas’ latest Business Expectation Survey (BES), the business confidence index improved to +41.5 percent in the first quarter—better than the +40.5 percent reported in the same period last year.

“This bespeaks of the growth momentum of the economy. Fundamentally, this is an indication of the view that the good readings we are seeing in the macroeconomic front would be sustained,” Ma. Cyd Tuano-Amador of the BSP said during a press conference Friday.

But the latest index was lower than the +49.5 percent recorded in the fourth quarter of 2012.

Rosabel Guerrero, director of the central bank’s economic statistics department, said the quarter-on-quarter decline was due to seasonality factors.

Usually, she said, business sentiment is lower in the first quarter than the rest of the year as demand for goods and services tends to drop immediately after the Christmas season.

Guerrero said the latest survey, which was conducted from Jan. 3 to Feb. 8, covered 1,555 firms nationwide with a response rate of 80.2 percent.

Also, survey results showed that the “next-quarter index” improved amid expectations that that the economy would be able to sustain the favorable performance seen recently.

The next-quarter index, which indicates expectation of businesses as to whether their sentiment will improve or worsen in the coming quarter, came in at +56.4 percent—up from the 55.4 percent reported during the same period last year and the +43.8 percent seen in the fourth quarter of 2012.

The Philippine economy, which grew by 6.6 percent last year to become one of the fastest growing economies in Asia, is expected to maintain its growth momentum through 2013. The official economic growth for this year has been set between 6 and 7 percent.

Amador said the growth projection, as well as expectation that the Philippines would soon get an investment grade rating, allowed most companies to feel good about doing business in the country.

“Business sentiment is favorable also because of the general perception of good governance,” she added.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Business , Business Expectation Survey , confidence index



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Man wins half marathon, dies in Argentina
  • Clouds to bring slight relief from summer heat
  • Canadians rally to legalize marijuana
  • S. Korea ferry transcript reveals evacuation panic
  • Obama, family cause a small stir at Easter service
  • Sports

  • Reigning champs Miami open playoffs with win
  • Spurs subdue Mavericks in playoff opener
  • Wawrinka beats Federer to win Monte Carlo Masters
  • Ageless Hopkins pitches 50-50 Mayweather deal
  • Goodbye MGM, Las Vegas for Pacquiao?
  • Lifestyle

  • Miss America: Don’t suspend teen over prom invite
  • Transitions and resurrection in the performing arts
  • ‘Archaeology tour’ of Cebu’s heritage of faith
  • Historic Fort Bonifacio tunnel converted into a septic tank
  • ‘Imports’ from London, and play of the year
  • Entertainment

  • ‘Captain America’ stays strong atop US box office
  • Easter musings
  • Solenn in shorts
  • Unmerry mix of attention-calling moves on ‘Mini-Me’ TV tilts
  • Persistence pays off for The 1975
  • Business

  • BDO seen keen on bidding for Cocobank
  • Bataan freeport investment pledges up 1,302%
  • Golden Week
  • Bourse to woo Cebu stock mart investors
  • Supper power
  • Technology

  • Nasa’s moon-orbiting robot crashes down
  • Netizens pay respects to Gabriel Garcia Marquez
  • Nokia recalls 30,000 chargers for Lumia 2520 tablet
  • Facebook rolls out ‘nearby friends’ feature
  • Netizens seethe over Aquino’s ‘sacrifice’ message
  • Opinion

  • Gigi’s home
  • Palace stonewalls on MRT inquiry
  • Couple of things too
  • There is plenty of water behind Wawa Dam
  • Triduum thoughts of a young boy
  • Global Nation

  • Search for Etihad passengers launched
  • Japan presents $57-B ‘dream plan’ to solve Metro congestion
  • Tim Tebow’s charity hospital in Davao seen to open in 7 months
  • OFW died of Mers-CoV in Saudi Arabia, says family
  • Aquino, Obama to tackle US pivot to Asia during state visit
  • Marketplace