Businesses are growing more optimistic about the economy, with the net confident score rising for the second straight month.
The Bangko Sentral ng Pilipinas (BSP) said local firms see better prospects in the second quarter of 2019, riding high on the summer wave and the election boost.
The confidence index for businesses rose to 40.5 percent from 35.2 percent the previous quarter.
Their reasons to be jubilant include the usual uptick in demand during the summer, thanks to both local and foreign tourists; as well as the enrollment, harvest, and election periods.
Sustained increase in orders, business expansion, and the government’s continued infrastructure rollout also boosted investor confidence.
The BSP survey covered 1,501 firms nationwide during the period April to May.