Business Confidence Index Drops in Fourth Quarter

Business confidence for the fourth quarter dropped to 39.8% from the previous quarter’s 45.4%. This is the lowest in two years and comes despite the expected increase in demand brought about by the holiday season. The Bangko Sentral ng Pilipinas (BSP) survey attributed the decline to issues with the administration’s economic reform and foreign policies, lack of supply of raw materials, and losses of importers due to the drop in the…

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