Traders’ Confidence in PH Economy Shaken

Businesses’ confidence in the Philippine economy fell to its lowest since 2011 due to concerns over port congestion in Manila, higher commodity prices and political noise, according to the Bangko Sentral ng Pilipinas (BSP).

Results of the BSP’s business expectations survey (BES) for the third quarter showed companies remained optimistic, although there were more pessimists in the current three-month period.

Officials said the survey results could point to slower growth in the current quarter, given the strong correlation between the BES and the country’s economic performance.

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Source: Philippine Daily Inquirer

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