Business Confidence Index Down in First Quarter

The overall business confidence index as measured by the Bangko Sentral ng Pilipinas (BSP, Philippine central bank) slid to 39.4 percent in the first quarter from 39.8 percent in the fourth quarter of last year. The BSP said that sentiment of businesses was negatively affected by the usual slowdown in business activity and moderation of consumer demand after the Christmas holidays and harvest seasons, rising oil prices and higher cost of raw materials, weakening of the currency against the dollar, and the adoption of a wait-and-see attitude…

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