Business confidence improves in Q2 - BSP

Companies in the Philippines have a more bullish outlook for the second quarter and the next 12 months amid expectations of higher consumer demand, uptick in business activities as well as easing inflation.

- KEISHA TA-ASAN

Meanwhile, consumers have turned less optimistic for the period as they anticipate faster inflation, fewer available jobs and less income, the Bangko Sentral ng Pilipinas (BSP) said.

Redentor Paolo Alegre Jr., senior director at the BSP's Department of Economic Statistics, said that based on the results of the latest Business Expectations Survey (BES), the overall business confidence index for the second quarter rose to 48.1 percent from 38.2 percent.

This came amid expectations of higher demand for products and services, completion of more projects, seasonal uptick in business activities in the tourism and fisheries sub-sectors during the summer and open fishing seasons, development of new products and slower inflation.