BUSINESSES have become more upbeat about the economy and their prospects, the Bangko Sentral ng Pilipinas (BSP) said on Thursday, with measures for the first and second quarter of 2023, and the next 12 months all improving from three months earlier.
'This means that the percentage of optimists increased and outweighed the percentage of pessimists during the reference periods,' the BSP said in a statement.The overall confidence indices for the current quarter, next quarter, and the next 12 months rose to 34 percent, 49 percent and 61.9 percent, respectively, from 23.9 percent, 31.3 percent and 46.2 percent as of December last year.
'Particularly, businesses are expecting that inflation for Q1 2023 , Q2 2023 and the next 12 months may average at 7 percent, 6.9 percent and 6.6 percent, respectively,' the central bank said.As for second quarter sentiment, the increased optimism was attributed primarily to expectations of higher sales, improved business activities and operations, and a seasonal uptick in demand over the summer months.
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