SURVEY: Region’s traders optimistic

BUSINESSES in the region remained bullish on the economy this quarter following the influx of investments and the expected increase in consumer demands during the holidays, the results of the survey made by Bangko Sentral ng Pilipinas (BSP) bared.

In the recent Business Enterprise Survey (BES) of BSP which was released on Nov. 25, the sentiment of the businesses in the region was at high along with Regions I, II, V, VI, VIII, IX, X and XII.

“Respondents cited the following factors for their more optimistic outlook: (a) expected increase in consumer demand during the Christmas, main palay harvest and milling seasons, (b) increase in sales and orders leading to higher volume of production, (c) acceleration of infrastructure spending,” the BES cited.

The results of the survey added that the other factors are “(d) opening of high seas/fishing operations in October, (e) steady flow of overseas Filipinos ‘remittances and (f) influx of investments, particularly in Regions I and XI.”

This, however, is different at the national level where businesses were less optimistic, noting on the concerns over the direction of foreign policies and economic reforms in the country, weakening of global demand, foreign exchange losses of importers and lack of supply of raw materials.

The recent BES of the central bank polled 103 firms in Davao Region, which were included in Securities and Exchange Commission’s Top 7,000 Corporations in 2010 and Business World’s Top 1,000 Corporations in 2014.

In the third quarter, the businesses in the region were already upbeat on the economy as there was the holding of the Kadayawan festival and the agriculture industry began to recover from the long period of drought.

The BES for the fourth quarter was conducted in Oct. 3-Nov.17, which polled 1,470 firms nationwide.

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