Firms see tighter cash position in Q3

Philippine businesses expect their cash position to remain under pressure in the third quarter, even as they turn more optimistic about hiring toward year-end, according to the Bangko Sentral ng Pilipinas (BSP).

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Results of the BSP’s latest Business Expectations Survey showed that the financial condition index slipped further to -17.2 percent in the third quarter from -15.8 percent in the previous quarter, indicating that more firms anticipate a tighter cash position.

At the same time, the credit access index remained slightly negative, edging down to -0.5 percent from -0.3 percent, reflecting expectations of continued tight lending conditions.