PHILIPPINE companies are less upbeat with regard to expansion and hiring plans for the third quarter, data from a Bangko Sentral ng Pilipinas (BSP) survey showed. Results of the latest Business Expectation Survey (BES) put the confidence index (CI) of companies with expansion plans at 34.2 percent, down from 35.1 percent in the previous quarter. Among sub-sectors, agriculture, fishery and forestry, mining and quarrying, and manufacturing recorded stronger expansion plans, while those of electricity, gas and water were slightly lower from a quarter ago, the Bangko Sentral said. The employment outlook, meanwhile, also eased to 24.9 percent from 29.9 percent. The latest BES, which polled 1,466 companies nationwide, was conducted from April 2 to May 22.

Source: Manila Times June 03, 2018 16:45 UTC