BSP: Business outlook becomes less optimistic
Business outlook is less optimistic in the first quarter, compared with the previous quarter, because of the typical slowdown in economic activity after the Christmas and rice harvest seasons, according to a Bangko Sentral survey.
“Businesses outlook on the economy continued to be favorable in the first quarter with the overall confidence index at 41.5 percent,” Bangko Sentral assistant governor Ma. Cyd Tuano Amador said in a press briefing Friday.
Results of the Business Expectations Survey of the Bangko Sentral showed the overall confidence index declined from 49.5 percent in the fourth quarter. However, it was slightly higher than 40.5 percent in the first quarter of 2012.
The confidence index is computed as the percentage of firms that answered in the affirmative less the percentage of firms that answered in the negative with respect to their views on a given indicator. The first-quarter survey was conducted from
Jan. 3 to Feb. 8, 2013, with 1,555 companies surveyed nationwide.
“This is a typical downturn in business outlook during the first quarter of the year. The lower CI indicates that the number of optimists declined but continued to be greater than the number of pessimists during the quarter,” the Bangko Sentral said.
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