The Philippines is posting improved business outlook for the next 12 months amid ongoing concerns brought by the conflicts in the Middle East.
This is the findings of a survey by the country’s central bank, highlighting that the three-month-ahead confidence index (CI) improved from -17.3% to -7.5%.
According to a report by the Philippine News Agency, the Bangko Sentral ng Pilipinas says firms were less pessimistic about the next three months mainly due to the fact that the beginning of the academic year for most schools is expected to drive demand for loans and financing products.
For the coming year, the survey found that firms were more optimistic due to anticipated stronger demand for business process outsourcing, construction, and transportation services.
