Business optimism at 14-year high – MBC
Posted by akosistella on April 6, 2010
MANILA, Philippines – The outlook of local businessmen on the economy for this year is the most upbeat in 14 years, based on the Makati Business Club’s Executive Outlook Survey.
The survey, which was conducted in March this year, shows that 89 percent of survey respondents believe that this year’s economic growth will rise faster than the 0.9 percent gross domestic product (GDP) growth recorded in 2009.
This percentage of optimistic respondents is the highest in 14 years, surpassed only in July 1996 when 93.9 percent of respondents believe economic growth would be higher than the previous year.
Click Philippine Star.
Concern raised over peso’s rise
EXPORTERS who have only recently begun enjoying the global economic pickup are now grappling with a strengthening peso, which they fear will make their prices unattractive to foreign buyers.
Industry groups yesterday sounded off their concern, saying merchandise with high local content will particularly be hard hit.
Sales growth forecasts for the year, however, will be maintained for now as exporters look to capacity building programs and other means to improve competitiveness.