Sign up | Log in



Home  >>   Daily News  >>Philippines>>Economy>>PHL economic outlook less upbeat in Q3
NEWS UPDATES Asean Affairs    August  28,  2017  

PHL economic outlook less upbeat in Q3

The business community "turned less optimistic" about the third quarter of the year, results of the latest Business Expectations Survey (BES) by the Bangko Sentral ng Pilipinas (BSP) showed Friday.

The overall confidence index (CI) declined to 37.9 percent from 43 percent of the second quarter of 2017.

"This means that the number of optimists declined but continued to be greater than the number of pessimists during the quarter," the central bank said in an emailed statement.

The CI is computed as the percentage of firms that answered in the affirmative, minus the percentage of the firms that answered in the negative with respect to their views on a given indicator.

Respondents with "less buoyant" outlook about the third quarter cited the following reasons:

    *Seasonal factors (business slowdown during the rainy season, slack in demand during the planting and closed milling season, and the closed fishing season in Davao Gulf from July to September)

    *Marawi crisis and declaration of martial law in Mindanao, which affected people's mobility to and in Mindanao;

    *Weakening peso

    *Higher prices

    *Stiffer competition

    *Damage and power outages caused by the July 6, 2017 earthquake in the Visayas

"The sentiment of businesses in the Philippines mirrored the less buoyant business outlook in the US, Canada, The Netherlands, New Zealand, and Thailand but was in contrast to the more bullish views of those in Germany and Hong Kong and steady outlook in France," the BSP said.

Meanwhile, the business outlook on the economy has turned more positive for the fourth quarter as the CI rose to 51.3 percent from 42.7 percent in the previous quarter's survey results.

Respondents with "more positive" outlook had the following expectations:

    *Uptick in consumer demand during the holiday, harvest and milling seasons

    *Continued rollout of government infrastructure and other development projects

    *Continued increase in orders and projects translating to higher volume of production

    *Expansion of businesses and new product lines

    *Introduction of new and enhanced business strategies and processes

    *Expected favorable weather condition for agricultural products

    *Positive impact of the proposed tax reform program

The third quarter survey was conducted on July 3 to August 18 with 1,480 firms surveyed nationwide. Respondents were from the Securities and Exchange Commission list of Top 7,000 corporations in 2010 and Business World's Top 1,000 corporation in 2015. — Marlly Rome Bondoc/VDS, GMA News

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

Today's  Stories                          August 28, 2017 Subsribe Now !
• PHL economic outlook less upbeat in Q3 Subcribe: Asean Affairs Global Magazine
• Gerindra says the draft 2018 state budget unrealistic
Room to develop VN-Turkey ties
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

• Gov't underspending falls to 0.4% at P6B in H1
• Peer-to-peer lending bears risk of bad debt: Economist
Asean Analysis                  August 25,  2017
• Asean Analysis August 25, 2017
Will Trump’s “America First” Result in U.S. Economy Being Left Behind in Asia?
Advertise Your Brand

Asean Stock Watch   August  25,  2017

• Asean Stock Watch-August 25, 2017
The Biweekly Update
• The Biweekly Update  August 25, 2017

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2020 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand