Business sentiment in the Philippines increased in the second quarter of 2024, reversing the dip of the previous quarter with the confidence index (CI) climbing to 48.1 percent from the period period’s 38.2 percent.
According to the latest business confidence survey of the Bangko Sentral ng Pilipinas, this surge is linked to anticipated higher demand, completion of projects due to a more conducive business environemnt, and an uptick in tourism and fisheries activities.
Moreover, business optimism extended over the next 12 months, as the CI further increased to 60.8 percent.
Key factors driving this positive outlook include sustained demand, favorable economic conditions, the expected easing of inflation, and planned business expansions. This bullish stance reflects broader sectoral confidence, signaling a robust economic trajectory for the nation, the central bank said.
